Shares of Amazon.com Inc. sank in afternoon trading Monday, putting them on track to suffer the longest losing streak in 13 years, as the triple threat of disappointing earnings, regulatory concerns and the broader stock-market selloff has weighed heavily on the e-commerce and cloud giant’s valuation.The stock AMZN, -3.18% slumped 3.1% in afternoon trade as it heads for an eighth straight decline. That would be the longest losing streak since the nine-day stretch ending July 14, 2006.
The losing streak began the day before Amazon reported a second-quarter profit that missed expectations. During the streak, the company has had to contend with antitrust regulators looking into Big Tech, and valuation concerns as the U.S.-China trade tensions sap investor sentiment.Founder and Chief Executive Jeff Bezos made a good move by selling shares last week.
On Monday, Amazon’s selloff came as the Nasdaq Composite Index COMP, -3.52% dropped 3.7%, the S&P 500 index SPX, -3.00% fell 3.1% and the Dow Jones Industrial Average DJIA, -3.00% slid 804 points, or 3.0%. See Market Snapshot. Glenmede Trust Company’s strategy team said in a note to clients Monday that the risk embedded in a handful of “high-flying growth stocks,” which includes Amazon, had increased “significantly” as the stock market rallied to fresh highs last month.
Good!
Fair price?
Amazon is nothing but a GLORIFIED eBay
It’s over for them, no one shops at Amazon anymore.
Why
The shooters bought extended ammo clips, & body armor from Amazn. You don't see that mentioned.
Right AFTER he sells $1.8 BILLION in personal shares. He must be clairvoyant. (Or he knew what the FED and China were about to do?) Who else serendipitously sold large blocks of shares this last week as if they had inside information?
$AMZN is still overvalued by 134%! This Market Bubble would be called FAANG Bubble! $FB $AAPL $AMZN $GOOGL $NFLX are all significantly overvalued compare to intrinsic value!!!
Good!
sell crap son or later catch with you amzn
Divorce is expensive.