I'm completely mystified by Amazon. The stock just reached the 2000$ mark, which means that it has doubled over the last year (about 980$ a year ago). And we're talking about a stock with a market cap of about 1 trillion dollars.
Oh yes, my droogies. Amazon is the second biggest market cap in the world, just after Apple (which had a 40% return over the last year... not bad either). That's completely crazy.
What is funny about Amazon is that it's PE multiple has contracted instead of expansed over that period, which is the exact opposite of what should have happened.
OK, Amazon is a case apart because of it's stratospheric valuation. It's just less stratospheric this year than it was last year. It means that the company has made a great job of improving it's earnings.
And there are still people investing on the Venture, with penny stocks, thinking that's where you can the most easily double your money.
I'm not that a fan of Amazon, but I'd put money on it anytime before I'd put money on any penny stock.
Remember the famous last words of Bernard Mooney: "I have one regret: it's having overlooked exceptional companies because of their price". That sentence can be applied to Amazon, but probably to many other examples that we all have in mind.