Amazon's $400 Price Target Hike | On This Day

Let's take a quick look back at history this day, back in 1998, Henry Blodget. Remember him? He made one of the boldest calls ever by a stock analyst on Wall Street, a bet that an unprofitable online bookseller named Amazon.com could almost double its stock price within a year. It was laughable. Amazon, which at the time was refusing to provide investors with sales guidance, was pulling in just around $154 million in quarterly revenue and had never even posted a profit. In fact, investors, they were paying about $165 for every dollar the company had lost in the prior 12 months.
--------
More on Bloomberg Television and Markets

Like this video? Subscribe and turn on notifications so you don't miss any videos from Bloomberg Markets & Finance: https://tinyurl.com/ysu5b8a9
Visit http://www.bloomberg.com for business news & analysis, up-to-the-minute market data, features, profiles and more.

Connect with Bloomberg Television on:
X:   / bloombergtv  
Facebook:   / bloombergtelevision  
Instagram:   / bloombergtv  

Connect with Bloomberg Business on:
X:   / business  
Facebook:   / bloombergbusiness  
Instagram:   / bloombergbusiness  
TikTok: https://www.tiktok.com/@bloombergbusi...
Reddit:   / bloomberg  
LinkedIn:   / bloomberg-news  

More from Bloomberg:
Bloomberg Radio:   / bloombergradio  

Bloomberg Surveillance:   / bsurveillance  
Bloomberg Politics:   / bpolitics  
Bloomberg Originals:   / bbgoriginals  

Watch more on YouTube:
Bloomberg Technology:    / @bloombergtechnology  
Bloomberg Originals:    / @business  
Bloomberg Quicktake:    / @bloombergquicktake  
Bloomberg Espanol:    / @bloomberg_espanol  
Bloomberg Podcasts:    / @bloombergpodcasts