Well, that didn’t last.
Just two days after Amazon introduced its first smartphone, investors have wiped the event from memory.
Amazon’s stock climbed around three percent on Wednesday to $335, moments after Jeff Bezos unveiled the Fire phone in an event in Seattle. By midday Thursday, Amazon was trading at $327, down close to its pre-event level of $326.
Now, at about noon ET on Friday, the stock is trading at $322 — down about another percent.
What does it all mean? For some traders, probably the difference between millions gained and lost. For Bezos? A reminder that Wall Street is fickle and should mostly be ignored.
More on Amazon’s Fire Smartphone
- Amazon’s Stock Fizzles After Fire Phone Pop
- Bezos: Amazon Fire Phone Was a Long Time Coming
- Amazon’s Smartphone Ambitions Go Beyond Making Shopping Easier
- Amazon Could Have Put the Hurt on Other Android Phone Makers, but Didn’t
- Amazon Fire Smartphone Available Exclusively Through AT&T for $199
- Amazon Fire Smartphone Boasts Enhanced Depth Perception, Tilt Control
- Amazon’s Fire Smartphone Uses “Firefly” Image Recognition
- Amazon Unveils the Fire Phone (Liveblog)
- T-Mobile’s CEO Pokes at Amazon Over AT&T Exclusive
- Was the Amazon Phone Inspired by This Video?