Amazon’s biggest drop since 2006 caps dismal month for tech
Posted: Sat Apr 30, 2022 9:48 pm
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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.
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.