Amazon steps into the hot seat
"Analysts at the gathering will be looking for progress toward the company’s pro forma profitability goal. But they are also expected to ask some tough questions about Amazon’s huge debt burden, which some warn could drive the company into a formal Chapter 11 debt restructuring proceeding. Amazon’s most recent quarterly 10-Q filing confirms that the company is actively seeking ways to improve its financial standing, including through debt restructuring or new sales of equity in the company."
I have sold the 120 AMZN shares I held at $17 yesterday (I bought them at $25 six months ago), since I felt the rebound from about $8 was already quite big, and things might get worse before they get better moving forward. We’ll see if it was "chicken" to do so.
