Amazon.com Inc (NASDAQ: AMZN) has been one of the market’s hottest tech stocks in recent years, and remains one of its most closely followed. It conquered e-commerce, turned cloud computing into a household term, and built an advertising business on track to bring in more than $60 billion this year. But while its fundamentals are undoubtedly impressive, its stock has frustrated investors in recent months.
Despite the broader equity market pushing on to fresh records almost weekly since July, Amazon has yet to close above last February’s all-time high. Shares have repeatedly run into resistance around the $240 mark, failing to push through on multiple occasions over the past nine months, including twice in the past two months alone.
