Two days before amazon announces earnings, it gets glowing remarks from a bunch of analysts with price targets of $280, give or take.
Then amazon announces dismal earnings last night and takes a plunge down to around $200 today. What were these analysts thinking? So they just induce a bunch of people to sink money into amazon only to wake up to heavy losses two days later.
There’s really no need to wonder about where these analysts get their info. The answer is that the good ones throw darts, and the other ones, let’s just say, have other motives.