Amazon’s Market Capitalization Drops to Over $900 Billion — the First Time It’s Been Below $1 Trillion Since April 2020

For the first time in two and a half years, Amazon is worth less than $1 trillion.

An Amazon warehouse in November 2021 when Amazon’s stock was nearing its pandemic peak.

This is primarily due to a massive sell-off after the company projected a sluggish holiday season in an earnings report last week, as CNBC noted.

Amazon had a riotous pandemic, going from a stock value of roughly $95 a share in early April 2020 to $183 a share by late November 2021 — an increase of some 93%.

But, last week, it missed analyst revenue expectations and projected less than expected holiday sales revenue — of between $140 billion and $148 billion, respectively, when analysts had projected quarterly revenue of about $155 billion, per CNBC.

Then, the selloff began. Last Tuesday, Amazon was trading at about $120 a share, and as of Wednesday afternoon, it’s at about $94.

Market capitalization is a measure of the value of a company’s outstanding shares of stock, so it changes with a company’s stock price.

When Amazon was riding high the last few years, it was worth a peak of almost $1.9 trillion per Bloomberg, and now clocks in at about $965 billion as of Wednesday.

This year is on track to be the most value the company’s stock has lost in a single year since 2008, as CNBC noted.

https://www.entrepreneur.com/article/438383