AMAZON stock crashes 87% after hours, BTC and ETH price trends look stable in comparison by davebrewer

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money · @davebrewer · Jul 6 '17

$3.11

AMAZON stock crashes 87% after hours, BTC and ETH price trends look stable in comparison

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<p>
Amazon stock dropped to $123.47 in after hours trading. &nbsp;</p>
<h3><strong>Down by 87%.</strong></h3>
<p><br></p>
<p>https://steemitimages.com/DQmSS2mrAMEFV5jTc3PzaupqCEnPdz1wwmpEDwCx56oKciY/surprised-teen-covering-her-mouth-with-her-hand_1149-856.jpg</p>
<p><br></p>
<p>But so did Apple stock. &nbsp;Same price point. &nbsp; Apple stock also dropped to $123.47</p>
<p>Good for you if you owned Zinga (ZNGA) or Mr. Softie (MSFT). &nbsp;&nbsp;They were up 3000% and 79% respectively, both landing at $123.47. &nbsp;&nbsp;Temporarily. &nbsp;&nbsp;Before trading was halted.</p>
<p>http://theinvestorswire.com/nasdaq-triggers-market-wide-circuit-breaker-as-amzn-crashes-87-after-hours/</p>
<p>NASDAQ reports that this &nbsp;was an accident due to some test data getting released into the production network. &nbsp;&nbsp;OOOPS.</p>
<p>By comparison, recent backlogs and delays in clearing some BTC or ETH transactions are not looking as bad as they may have looked just a couple of days ago. &nbsp;&nbsp;&nbsp;</p>
<p>We can apparently tolerate this type of error from NASDAQ, which is a lot larger than any individual crypto exchange. The world didn't come to an end with this NASDAQ error. &nbsp;&nbsp;&nbsp;</p>
<p>Of course all the crypto exchanges need to do a much better job of scaling up to manage the growing number of transactions. &nbsp;But it is a scaling issue they can work through.  Current temporary delays in processing and settling transactions doesn't have to be an existential crypto crisis if they are diligent in implementing all required scaling projects.</p>
<p><br></p>
<p><br></p>
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👍 randowhale, davebrewer, tastetwist, sacred-agent, jchiogna, debfreefinance, andrew.tischler, black-eye, blazing, gueco

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@blazing · Jul 6 '17

$0.24

Thanks for this Update :)

👍 davebrewer

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@izbing · Jul 6 '17

$0.23

At the same time Amazon is not as strong as it seems. I'm not even sure they're making a profit. In any case I will follow you because I love being informed and your articles are good.

👍 davebrewer

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@davebrewer · Jul 6 '17

$0.04

Thanks for reading.   Good comment - Amazon has been given more time to operate without generating any substantial profit than any other company in history.   They are like Pac-Man.  Just keep gobbling up pieces of the economy, but never focusing on margin improvement it seems.

👍 izbing

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@randowhale · Jul 6 '17

This post received a 3.6% upvote from @randowhale thanks to @davebrewer!  For more information, [click here](https://steemit.com/steemit/@randowhale/introducing-randowhale-will-you-get-the-100-vote-give-it-a-shot)!

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@rtdcs · Jul 6 '17

Congratulations! Nice post. I'm following you now :)

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@sacred-agent · Jul 6 '17 (edited)

$0.18

@DaveBrewer...As You suggested, Amazon seems to be able to make large buy-outs or extensive investments in their infrastructure without any concerns of either their profit margins or the price of their stock.

Maybe Amazon has some secret "benefactors" with LOTS of money...

Thank You Dave 4 sharing... 

Hope everything is Good on Your side of the computer.

👍 davebrewer

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@veleje · Jul 6 '17

Stock markets are being fragile with 90% of trades being executed by algorithms.
I hope one day we get stock market based on block chain.

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