Stock Watch: Continues to Tumble

On the day the Dow closed above 11,000 for the first time in history, shares of (Nasdaq: AMZN) continued to get pounded. fell 21-1/8 to 150-5/16 on Monday. Remember, this is a stock that closed at an all-time high of 210-1/8 on April 26.

So what’s happening? Well, last week’s earnings report has investors concerned that’s losses will continue to grow in coming quarters as the company expands. In many ways, this is an appropriate sell-off for what many consider one of the most overvalued stocks on Wall Street.

One big hurdle facing is increased competition in its bread-and-butter books-and-music business. now must compete with major challenges from two major brand names: Virgin, which launched its online megastore on Monday, and Hastings Entertainment (Nasdaq: HAST), which will launch an online superstore later this month.

Shares of Hastings, which were up 1-1/8 to 16-7/16 on Monday, have run up more than 60 percent in recent makes, but they still look cheap compared to

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