As Bears Bash, Amazon Heads to $300
Written by: Rocco Pendola
Tickers in this article:
AAPL AMZN BBY
NEW YORK (TheStreet) -- While the board of directors at Best Buy (BBY) digest (and likely blow off) my latest report about its ineptitude, Amazon.com (AMZN) keeps chugging along to $300.
As I write -- just prior to the market close -- it's toying with the $260 level.
To think that, according to a former employee, Best Buy's former management actually said, No partnerships with Amazon. No Exceptions, should not only shock the hell out of you, it ought to send your creativity juices spewing uncontrollably through your nose.
But, enough about Best Buy. Talking about what Amazon's doing, not so indirectly, speaks to what -- here comes a generic news scribe identifier -- the electronics retailer doesn't have going for it.
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Even though awful water pressure at my hotel made my hairdo look like it drowned in an oil slick, I think I made a good point in this video I shot with TheStreet's Chris Ciaccia and James Rogers: