Amazon falls again as the premium valuation era shows signs of cracking
georgeclerk/iStock Unreleased via Getty Images

Amazon (NASDAQ:AMZN) shed another 1.68% on Monday morning despite the Nasdaq being in positive territory.
Shares of Amazon (AMZN) traded as low as $2,367.50 as the string of successive 52-week lows starting to pile up.
Analysts are still picking at Amazon (AMZN) following the guidance update, which rattled the perpetual growth story thesis.
Wedbush Securities removed the stock from its Best Ideas list due to what analyst Michael Pachter called "investment price discipline" with the operating income tallies from Seattle now attracting more attention than usual.
D.A. Davidson was also pointing at a valuation reset. "With slowing e-commerce sales growth, the company needs new revenue sources to sustain its elevated revenue growth and premium valuation multiple, in our view beyond its AWS effort, which continues to impress," noted analyst Tom Forte.
More than two million shares of Amazon (AMZN) swapped hands in the first 25 minutes of trading on Monday.
Read the latest from Seeking Alpha authors on AMZN - Amazon: $2,000 Is A Strong Possibility Before We See $3,000 Again, Amazon: It Deserves To Be Crushed Given Its Growth Premium, and Amazon Q1 Earnings: Free Cash Kept Deteriorating.