Diamonds and Dogs

12/26/18

Retailers had a good holiday. Amazon (AMZN) is up 2% after tens of millions of people signed up this season for free trials or paid memberships for Amazon Prime. The company said it sold millions more of its own devices, like the Echo Dot and Fire TV Stick 4K, compared with last year. Amazon said it also sold a record number of smart home devices including the Amazon Smart Plug, Ring Video Doorbell 2 and the iRobot Roomba 690. Another Fang stock, Facebook (FB) is up 2.5% as famous short-seller at Citron made Facebook its stock for 2019 and a $160 price target. At least two stocks are up for the day.

Autos have seen better days. Ford Motor (F) is down 2% today to a new 52 week low after recalling more than 874,000 trucks in North America that may have an engine heater flaw. The Blue Oval said that the engine block heater cable, which may catch fire, can be replaced. The F series trucks are the one line of cars still making money for Ford. Not a good year for Ford, or GM, as the stock is down 40% for the year. Not sure 2019 will be much better.