AMZN Stock Profits Fall Short After Wall Street Realizes There Was Evidence That Someone Snuck All Earnings Into A Rabbit Hole.

Washington -  It's been a tough couple of days for Amazon (AMZN) stock. After reporting earnings that fell short of Wall Street's expectations, the stock took a beating in after-hours trading. And now, it's fallen even further after Wall Street realized there was evidence that someone had snuck all of Amazon's earnings into a rabbit hole.

The evidence came to light in a report from The Wall Street Journal, which found that Amazon had been using a creative accounting technique to boost its profits. Essentially, the company was booking revenue from its third-party sellers as its own. This helped Amazon meet Wall Street's expectations in the short-term, but it's not a sustainable strategy.

Now that the news is out, Amazon stock is taking another hit. The stock is down more than 5% in pre-market trading, and it's on track to open at a new 52-week low. This is a far cry from where Amazon stock was trading just a few weeks ago when it hit an all-time high of $2,050.

It's still early, but it looks like Amazon's earnings miss was more than just a one-time thing. The company's accounting practices are coming under scrutiny, and that could lead to more problems down the road. For now, Amazon stock is in a free-fall, and there's no telling when the bottom will finally be reached.
Location: Washington, USA

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