Amazon Hits New High

Shares of Amazon (AMZN) got as high as $135.25 today.

Here’s something to think about: Amazon reached its 1999 closing high of $106.69 (adjusted for splits) on December 10, 1999 — almost exactly ten years ago. The stock didn’t break that closing high until October 23, 2009.
So was Amazon’s stock a bubble 10 years ago? Yes and no. Even if you bought at the exact top, you’ve made a very small profit (although it’s basically been erased by inflation). But still, you’ve done a lot better than the S&P 500. Excluding dividends, the S&P 500 is down about 23% since December 10, 1999.

Posted by Eddy Elfenbein on November 30th, 2009 at 1:12 pm

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