Will Amazon.com (AMZN) Bounce Back?

Lakehouse Capital, an investment management company, released its “Lakehouse Global Growth Fund” November 2022 investor letter. A copy of the same can be downloaded here. November was a quiet month, and the fund returned 1.0% net of fees and expenses compared to 2.9%return for its benchmark MSCI All Country World Index. In addition, please check the fund’s top five holdings to know its best picks in 2022.

Lakehouse Capital discussed stocks like Amazon.com, Inc. (NASDAQ:AMZN) in the November 2022 investor letter. Headquartered in Seattle, Washington, Amazon.com, Inc. (NASDAQ:AMZN) provides consumer products and subscriptions. On January 3, 2023, Amazon.com, Inc. (NASDAQ:AMZN) stock closed at $85.82 per share. One-month return of Amazon.com, Inc. (NASDAQ:AMZN) was -5.70% and its shares lost 49.64% of their value over the last 52 weeks. Amazon.com, Inc. (NASDAQ:AMZN) has a market capitalization of $875.51 billion.

Here is what Lakehouse Capital specifically said about Amazon.com, Inc. (NASDAQ:AMZN) in its November letter:

“Meanwhile, the largest detractor was Amazon.com, Inc. (NASDAQ:AMZN), which remained under pressure due to concerns around near-term profitability. We continue to believe that Amazon’s cost pressures will prove to be short-term in nature and that the company remains on track to deliver significant profit improvements over the next twelve months. For more commentary on their most recent earnings report please see last month’s letter here.”

Amazon.com, Inc. (NASDAQ:AMZN) is in 2nd position on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 269 hedge fund portfolios held Amazon.com, Inc. (NASDAQ:AMZN) at the end of the third quarter, which was 252 in the previous quarter.

We discussed Amazon.com, Inc. (NASDAQ:AMZN) in another article and shared the most influential companies to invest in. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.