Amazon Market Value Drops by $1TR
Rising inflation, tightening monetary policy, and disappointing earnings updates all contributed to an extraordinary selloff in Amazon‘s shares this year, which wiped over a trillion dollars in market worth.
The e-commerce and cloud provider saw its market worth fall from a high of $1.88 trillion in July 2021 to around $879 billion today after its stock price fell by 4.3% in November.
Microsoft lost $889 billion since its peak in November 2021, putting it in second place behind Amazon in the race to surpass the unwelcome milestone.
Amazon has lost a trillion dollars in market value, making it the first publicly traded company in history to do so.
According to a research by Tradingplatform.com, the aggregate market capitalization of the five largest technology companies Google’s Alphabet, Apple, Microsoft, and Facebook (Meta)) dropped by $1.5 trillion in November.
The Big Five digital companies lost about $1.5 trillion in total according to business reports.
The total market cap of tech businesses reportedly fell by 22 percent in three weeks, from more than $6.9 trillion to $5.36 trillion.
Due to customers returning to their pre-pandemic routines, the largest online retailer in the world has had to spend much of this year adjusting to a dramatic slowdown in e-commerce growth. Due to falling revenues, increased expenses, and an increase in interest rates, its stock has decreased by more than 50%.
The slowest rate of growth for the year occurred in October, normally the busiest month for the organization.
