Amazon’s biggest drop since 2006 caps dismal month for tech

[admin]

https://ibb.co/album/2ZjdBc

https://www.aljazeera.com/economy/2022/ ... n-a-decade

Amazon.com Inc. shares collapsed on Friday, with a loss in market value that ranks as one of the worst in Wall Street history after it gave an outlook that was seen as disappointing.

The stock sank 14% in its biggest one-day drop since July 2006, with shares closing at their lowest level since June 2020. The selloff erased $206.2 billion off the company’s market valuation, a wipeout exceeded only by Meta Platforms, which shed $251.3 billion in market value after a disastrous report of its own in February.

[AncientSword]

This is indeed bad for Amazon stock. It is about a 26% decrease in the stock over a year period.

[xkhan]

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