While Wall Street analysts declared Amazon headed for bankruptcy and the stock cratered over 90%, one fund manager read a single line in the financials that changed his mind and kept buying. His conviction cost him almost everything before it…
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.
Amazon’s Darkest Year Started With a Cash Warning
On June 23, 2000, Lehman Brothers analyst Ravi Suria published a report warning Amazon (NASDAQ:AMZN | AMZN Price Prediction) would run out of cash within four quarters unless it raised more debt. The shares fell 19.4% that day to $33.825, and Suria kept issuing negative reports for eight months…