Amazon’s Stock Fizzles After Fire Phone Pop


Ina Fried


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.

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