Foolishly back in January I purchased a big block of Amazon stock at $3000 for sure which is $150 split adjusted today. Typically I would think I would be OK but the storm clouds are pretty strong for the following reasons below.
- Labor unions trying to organize Amazon employees.
- Cost of fuel for domestic deliveries. Also for getting items from port to warehouses.
- Cost of shipping containers from China to USA.
- Consumers backing off on any type of spending due to inflation issues they face.
- Federal reserve plans at least three more rate hikes of .75 each is each rate hike is put into effect it will drive the market down further.
I am sure there are more storm clouds but it concerns me that the economy won’t recover for several years because everything that is happening around us today is unprecedented.
Any thoughts on where you think Amazon might be 12 months from now. I have the ability to buy more shares at the lower price so I could work on DCA but I’m not sure where at the low point yet.
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