Amazon becomes world’s first public company to lose $1 trillion in market value
Amazon becomes world’s first public company to lose $1 trillion in market value
By selvakumar
By selvakumar
Image Credit - Google
Image Credit - Google
Amazon is the world's first public company to lose a trillion dollars in market value as a combination of rising inflation, monetary policies
Amazon is the world's first public company to lose a trillion dollars in market value as a combination of rising inflation, monetary policies
Image Credit - Google
disappointing earnings updates triggered a historic selloff in the stock this year
disappointing earnings updates triggered a historic selloff in the stock this year
Image Credit - Google
The Seattle-based online retailer lost more than $1 trillion in market capitalization on Thursday after its shares fell nearly 13 percent to $876.12 at the close of trading.
The Seattle-based online retailer lost more than $1 trillion in market capitalization on Thursday after its shares fell nearly 13 percent to $876.12 at the close of trading.
Image Credit - Google
"It's not just that they're losing money," said David Kotok, CIO at Cumberland Advisors LLC in Florida. "They're losing money so fast that their share price has been decimated."
"It's not just that they're losing money," said David Kotok, CIO at Cumberland Advisors LLC in Florida. "They're losing money so fast that their share price has been decimated."
Image Credit - Google
Image Credit - Google
Amazon's loss comes amid a broader rout in technology stocks , with Apple Inc., Microsoft Corp. and Alphabet Inc.'s falling more than 10 percent over the past three months.
Amazon's loss comes amid a broader rout in technology stocks , with Apple Inc., Microsoft Corp. and Alphabet Inc.'s falling more than 10 percent over the past three months.
Image Credit - Google
Image Credit - Google
The S&P 500 Technology Index is off 12 percent since hitting an intraday record high of 1,940.79 . Google parent both falling more than 10 percent over the past three months.
The S&P 500 Technology Index is off 12 percent since hitting an intraday record high of 1,940.79 . Google parent both falling more than 10 percent over the past three months.