Amazon (AMZN) has been having quite a rough go of it in 2014.
Amazon stock is cratering after ugly earnings and a few downgrades. AMZN is now down a rough 20% year-to-date in 2014 despite a nearly 7% gain for the S&P 500 in the same period.
But to add insult to injury, there are now reports that an Amazon employee piloting one of the company’s drone prototypes just crashed into the Space Needle, the iconic Seattle landmark.
Of course, this is turning into a he-said, she-said event where the alleged Amazon drone operator said no crash or run-in with the Space Needle occurred.
Here’s a CBS News report on the Amazon drone debacle involving the Space Needle:
“Seattle police say an Amazon employee flew a drone up around the top of the Space Needle where some eyewitness claim it crashed into a window.
According to a police report, Space Needle security made a 911 call Tuesday after several guests reported seeing a small drone buzz the top of the iconic structure and then crash into an observation deck window. Witnesses say the drone was a white, quad-propeller aerial vehicle, equipped with a camera.
Shortly after the crash, the drone glided to a hotel two blocks east of the Space Needle where it landed inside a fifth floor room.
Officers questioned the man inside the hotel room where the drone landed. Though he willingly showed the officers the video the drone captured, he maintained that there was no crash into the building. According to the police report, nothing on the video immediately indicated the drone had crashed into the Space Needle despite eyewitnesses saying otherwise.”
Whether or not an Amazon drone really did crash into the Space Needle is still unclear.
But for AMZN stock and Amazon public relations, this has been a pretty rough few weeks … and this is just one more reason things are frustrating for the e-commerce giant right now.
Of course, if you’re a speculator willing to buy on a dip, Will Ashworth says this kind of negativity is just what the doctor ordered. He says buy AMZN stock now.
Jeff Reeves is the editor of InvestorPlace.com and the author of The Frugal Investor’s Guide to Finding Great Stocks. As of this writing, he did not hold a position in any of the aforementioned securities. Write him at email@example.com or follow him on Twitter via @JeffReevesIP.