I have never understood investors love of Amazon.
They don’t frickin make money but, investors continue, for 20 years, to reward them with new investment confidence, over and over.
Why?
Any other company would have been BK YEARS AGO.
I agree with you. But, it seems that many investors keep coming along to buy the stock. Which in turn supports the market price/value of the company.
Speculation. If I can buy Amazon at 10 and convince my rival investors that it's the greatest thing since sliced bread and wouldn't they just love to buy it from me at 20, that's a good day. Somebody always ends with a garage full of tulip bulbs in the end, though.
Oh they make money. They just reinvest it. The only reason Amazon is so close to unprofitable is because they don’t let money sit around in the bank, they use it. They try new technologies, they grow the business concept, they acquire businesses. They’re in no danger of going bankrupt anytime soon.