It is beyond absurd people who sell $AMZN on this news. Amazon users will just keep refreshing until it comes back online, and then continue buying as normal.
Some rabid fans may, but it's ridiculous to assume that Amazon sees zero missed revenue when their website goes down on their (arguably) biggest sale of the year.
That's similar to all of the locks on all Walmart stores inexplicably getting stuck in the locked state for 2 hours at 6AM on Black Friday.
sure, they probably don't get that money back which might slightly influence the revenue for the quarter, but it's not as if the value of the business has changed drastically in the last 3 hours.
This happens every time AWS has an outage as well. Reddit is down, better sell AMZN.
It's not the same at all, because trying Walmart again later in the day means literally driving back to the physical store. With Amazon, it means getting your phone back out.
I'm sure there is some impact, but it's nowhere near the inconvenience of being locked out of a physical store.
If you already waited overnight, then 2 hours isn't going to cause you to go home and come back. You're going to continue to wait in the line until the store opens back up.
My guess is that they will extend prime day. But they fixed it quickly.
For me currently on amazon.de there is no problem and amazon.com shows a captcha form, so it looks like they were DoSed.
We had about $300-$400 worth of purchases lined up this morning that were going to be made just for the day. Site was down, we couldn’t get through - they aren’t going to happen. A lot of people only shop on the 30-40% of days - so, I’m guessing we’llnwait For digital Monday out in November?
Precisely. I wouldn’t doubt there are algorithms that take into account general tone of tweets and news posts (using some sort of NLP) into a trading decision.
Yes, this is done in practice and is a little scary because of its potential as a means of manipulating automated trading. On the other hand the markets can be manipulated already via news read by humans...
It's absurd for long term investors to sell on this news but if your a short term trader or bot then it might be a nice short term profit to trade on this news.
