Peter Thiel and David Tepper Are Buying Amazon Stock Hand Over Fist: Should You Follow the Smart Money?
Amazon was pinpointed as a major growth candidate by several hedge funds last quarter.
Overview
Some notable billionaire-run hedge funds purchased Amazon (NASDAQ: AMZN) stock in the second quarter, including those of Peter Thiel and David Tepper. Both of these firms have reputations for being right more often than not, and their moves to purchase Amazon shares during the quarter were notable.
However, they purchased those shares before Amazon delivered its impressive second-quarter results, which caused a rally in the stock. Since Q2 ended, Amazon's stock has risen about 10%, so buyers today will have to pay more to purchase shares than Thiel and Tepper did a few months ago.
Details
Is it still a good time to buy? Or has the near-term window closed for now?
Source
Originally published at www.fool.com.