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Amazon Returned to the BUZZ Index In October

Tuesday, November 1, 2016 12:49
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(Before It's News)

amazon-amzn-logoAfter a year of being absent from the social media-focused BUZZ Index, Amazon.com, Inc. (NASDAQ:AMZN) finally made its return last month.

Declining almost 30% during the downturn at the beginning of the year, Amazon has since surged to a new all-time-high of $845, continuing its impressive multi-year run. After posting four straight earnings beats in 2015, Amazon hit a snag to start 2016 as a surprise earnings miss in January, along with general weakness in “FANG” stocks, kept social sentiment subdued. Since then, AMZN has shown the January miss to be an anomaly, as it followed up with two huge record profit quarters. Bullish discussion on the company, which had been steadily increasing throughout the year, jumped noticeably in September, signalling the a follow-through in the breakout to new highs.

NVIDIA, AMD Are In, Too

A sharp increase this month in bullish discussion surrounding chipsets and graphics processors resulted in two notable additions to the BUZZ Index. NVIDIA, which had not been in the index since early 2015, and Advanced Micro Devices, a first timer in the index, both surged into the top 15. As two of the largest players in the GPU chipset space, NVDA and AMD have benefited from the industry’s enormous growth in 2016 as their stocks have more than doubled this year. Both companies have posed numerous surprise earnings beats in a row with no signs of slowing down. Investor bullishness towards the technology sector as a whole continues to be strong, and the positive sentiment looks poised to continue pushing these chipmakers higher.

According to BUZZ Indexes, the “BUZZ Social Media Insights Index identifies the 75 most bullish U.S. stocks based on investment insights derived from the Social Media’s Big Data.” Here’s a synopsis of the changes made last month:

buz-oct-changes

And here’s the sector makeup of the index as of the end of October:

buz-oct-sector

Amazon shares fell $8.47 (-1.07%) to $781.35 in Tuesday afternoon trading. Year-to-date, AMZN has gained 15.43%.

About the Author: Jamie Wise
jamie-wiseJamie Wise is the Founder of BUZZ Indexes and the President and Chief Executive Officer of Periscope Capital, a Toronto-based hedge fund manager. BUZZ Indexes creates and maintains proprietary quantitative index and portfolio strategies based on Big Data analytics models. Established in 2009, Periscope Capital is an alternative investment asset manager focused on cross-asset arbitrage strategies. Previously, Mr. Wise was a managing director at Moore Capital Advisors Canada, a multi-strategy Canadian-focused hedge fund. Prior to Moore Capital, Mr. Wise was a Managing Director and Portfolio Manager at the Bank of Montreal where he led an internal proprietary trading group. At BMO, Mr. Wise was appointed the youngest Managing Director in the firm’s history. Mr. Wise has an undergraduate business degree (hons.), graduating first in his class from the Ivey School of Business at the University of Western Ontario in 1998. Mr. Wise holds a Chartered Financial Analyst (CFA) designation.

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