Between March of 2020 and March of 2021, I made $20,000 buying Amazon on the dips and then selling when it started climbing again. I guess I was also trading Shopify and a few other stocks the same way. $20,000 is crumbs to the big fish but it's a pretty good sized chunk of change to me. It means repeatedly risking $20-$30,000 at a time on one stock though.
I feel like the high valuation is the price you pay to own stock in the strongest company on the planet. Plus, the stock hasn't split in 20 years.
Amazon becomes the top clothing retailer in the U.S., outselling Walmart, Target, Gap and others
and there's this. they say follow the smart money. The smart money appears to still be very bullish on AMZN even at $3,100+/share.
Amazon.com, Inc. (NASDAQ:AMZN) was in 273 hedge funds' portfolios at the end of the fourth quarter of 2020. The all time high for this statistic was previously 251. This means the bullish number of hedge fund positions in this stock currently sits at its all time high. Our calculations also showed that AMZN ranked #1 among the 30 most popular stocks among hedge funds (click for Q4 rankings).
Amazon was such a simple but extremely brilliant concept. Using the internet, you act as a the internet market place between sellers and buyers. No need for brick & mortar buildings, retail clerks, property taxes, utilities etc. Just run computer servers. Although Amazon does stock merchandise in automated ware houses.