Amazon Shares Are Tanking after Nightmare Report

After an abysmal Q3 earnings report announcing losses of 95 cents per share, Amazon’s stock is down 10%, and it is still falling precipitously. The earnings report is much, much worse than expected, with original estimates coming in between -$.057 and -$.075.

Now, it has to be said that Amazon rarely turns a profit, but this is real, real bad. We did, however, sort of call it.

Today’s events illustrate all-too-well the dangers of a collusive monopsony. And they render Matt Yglesias’ bizarre piece on Amazon for Vox all the more curious.

Stay tuned to see if it all gets worse. And keep an eye, too, on Melville House’s blog for excellent commentary.