The Kogan.com Ltd (ASX: KGN) share price has been one of the biggest movers on the Australian share market this year.
Year-to-date the online retailer's shares have gained a whopping 183%.
Why have its shares gone gangbusters?
Investors have been fighting to get hold of Kogan's shares after it posted full-year pro forma net profit after tax of $7.2 million.
Not only was this an incredible 800% increase on the prior year, it was 188% higher than its prospectus forecast.
Furthermore, investors appear pleased that Kogan has worked hard to diversify its business by offering mobile phone plans, insurance, and broadband.
The market may believe that these moves will help offset any negative impacts from Amazon's impending launch in Australia.
By contrast, rival retailers JB Hi-Fi Limited (ASX: JBH) and Harvey Norman Holdings Limited (ASX: HVN) have seen their shares fall 19% and 25%, respectively, during the same period.
Should you invest?
I was very impressed with Kogan's performance in FY 2017 and can't say I'm at all surprised by the huge share price gain it has experienced this year.
And while I think online retail is a great space to be in, I'm still concerned about the impact Amazon will have on its business when it finally launches.
In light of this, I think the prudent thing to do at this point is to wait and see how Kogan performs when it goes head on with the retail behemoth.