The Motley Fool

The Kogan.com Ltd share price has sunk 5%

The strong run by the Kogan.com Ltd (ASX: KGN) share price came to a sudden end today with a sharp drop.

In afternoon trade the e-commerce company’s shares are down almost 5% to $2.48.

What happened?

Whilst today’s decline could be the result of profit taking after a sensational run by its shares, news that Amazon is to open a 24,000 square metre goods delivery centre in Melbourne may have also caught the eye of shareholders.

Furthermore, the retail behemoth is recruiting for hundreds of warehouse and administrative staff immediately. This could mean that its long awaited launch is not far away at all.

Kogan has been busy diversifying its business in recent months by launching mobile phone plans, NBN plans, and insurance services.

Only time will tell whether or not this is enough to offset any decline in market share as a result of an Amazon launch.

You Rode the Blue Chip Bull Market, Now Get 2 New Share Picks Every Month

There's a fantastic way to get 2 new share picks aimed at beating the market every month.

And, not to alarm you, but you're about to miss a major event. You see, our trusted team of analysts and are about to release our very next "buy alert." If history is any guide, this is the perfect time to seize your financial future.

Simply click here to get started

Motley Fool contributor Motley Fool Staff has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

FREE REPORT: Five Cheap and Good Stocks to Buy now…

Our Motley Fool experts have FREE report, detailing 5 dirt cheap shares that you can buy today.

One stock is an Australian internet darling with a rock solid reputation and an exciting new business line that promises years (or even decades) of growth… while trading at an ultra-low price…

Another is a diversified conglomerate trading near a 52-week low all while offering a 2.7% fully franked yield…

Plus 3 more cheap bets that could position you to profit over the next 12 months!

See for yourself now. Simply click the link below to scoop up your FREE copy and discover all 5 shares. But you will want to hurry – this free report is available for a brief time only.

CLICK HERE FOR YOUR FREE REPORT!