Q2 STOCKS TO BUY

Amazon Stock Falls On Trump Tax Rumors

Amazon stock is down more than 10% from its record highs

Mar 28, 2018 at 11:19 AM
facebook X logo linkedin


Amazon.com, Inc. (NASDAQ:AMZN) is trading lower alongside fellow FAANG stocks Apple (AAPL) and Netflix (NFLX) today. The e-tailer is reportedly in the crosshairs of President Donald Trump, and per Axios, the president could be considering shifting the tax structure for e-tailers. This wouldn't be the first time he targeted the company, and last August, Trump tweeted "Amazon is doing great damage to tax paying retailers. Most recently, AMZN stock was down 3.6% at $1,443.10.

The stock is now down 10.8% from its March 13 record high of $1,617.54, but found a foothold atop its 60-day moving average -- which served as support in mid-2017, as well. Amazon is also holding above its 20% year-to-date level, located at $1,403.36.

Given it's longer-term uptrend, it's not too surprising to see sentiment tilted toward the bullish side. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), AMZN's 10-day call/put volume ratio of 1.25 ranks in the 95th annual percentile, meaning calls have been bought to open over puts at a faster-than-usual clip in the last two weeks.

Amid the stock's recent correction, short-term calls have become cheap relative to their puts counterparts. Amazon's 30-day implied volatility skew comes in at 13.7%, ranking in the 99th annual percentile.

 

 
 

“Buy This Stock Now!” - Expert Who Called 11x On TSLA

He called a rare 11x on Tesla…

But now, thanks to Elon & Trump’s new alliance…

He says there’s a new opportunity that could be 1,000x BIGGER than Tesla – and it could completely revolutionize a $23 Trillion market.

It’s trading for less than $5 per share right now…

But it won’t be under the radar for long.

Discover The 1,000x Bigger Elon Opportunity Here

GRAND SLAM COUNTDOWN

 
 

Featured Articles from Trusted Partners:

👀Learn How Dividends Create Passive Income for Life
Receive $200 Off Motley Fool Epic. The Motley Fool Epic $299 discounted offer is based on $499/year list price. Introductory promotion for new members only. Take control of your money and your portfolio with Motley Fool Epic.

💵New Income System Could Pay You $4,243 Monthly
You could collect an average of $4,243 per month starting as early as next week with a new payout system for income investors. New registrations are being accepted for investors who want to be in a position to start with their first payout next week.

🚀Easy 92% Crypto Dividends (No Coins Required)
COIN stock doesn't pay a dividend... But there's actually a new way to collect a massive dividend that's indirectly based on the stock and offers a terrific monthly income (currently yielding nearly 92% on a forward basis).

🤝Free Advisor Match with Wiseradvisor.com
Don't leave your retirement to chance! Get matched with a trusted financial expert for FREE and make the most of your tax refund. Get started now.

⚠️Dennis Quaid's #1 Warning for Americans
Here's the thing: life doesn't come with guarantees. The economy shifts, markets stumble, and years of hard work could slip through your fingers like sand. But it doesn't have to be that way for you. So request a free copy of this Gold & Silver Guide that will arrive right to your doorstep when you act now.

 

 
 

Follow us on X, Follow us on Twitter