Amazon's $400 Price Target Hike | On This Day
December 16, 2024
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2:18Now PlayingAmazon's $400 Price Target Hike | On This Day
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as posted by the channelLet's take a quick look back at history this day, back in 1998, Henry Blodget. Remember him? He made one of the boldest calls ever by a stock analyst on Wall Street, a bet that an unprofitable online bookseller named Amazon.com could almost double its stock price within a year. It was laughable. Amazon, which at the time was refusing to provide investors with sales guidance, was pulling in just around $154 million in quarterly revenue and had never even posted a profit. In fact, investors, they were paying about $165 for every dollar the company had lost in the prior 12 months.
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