Amazon’s stock is down: the company leaves the trillionaires club

In calo il titolo di Amazon: la società esce dal club dei trilionari per la prima volta dal 2020 thumbnail

A decidedly complex moment for Amazon which, after the incredible two-year surge of the pandemic period, is now undergoing a sharp slowdown with a dizzying fall in the stock on the stock exchange. The company, for the first time since 2020, did not re-enter the so-called “trillionaires club” by market capitalization.

According to Markets Insiders it is the most difficult moment for the company since 2020 and the reasons are to be found in the continuous sale of the title.

Stock exchanges: Amazon stock is down 5.5%

Markets Insider reports that on the day of Amazon stock closed at $ 96.79 yesterday, down 5.5%. In total, this would be a loss of approximately 10.2 billion. This is the first time since April 2020 that the company has dropped below the trillion mark.

Underlying investor distrust is Thursday’s earnings report. Amazon has announced that it has missed its revenue targets for the third quarter of 2022. The company has forecast further slowdowns for the final quarter. In less than a week – from Thursday, the day of the report, to Tuesday – Amazon lost $ 143 billion in market capitalization.

Currently there are only four titles that make up the “trillionaires club”. In the head there is Apple, which is currently the largest global stock by market capitalization, with a valuation of approximately $ 2.4 trillion. They follow Saudi Aramcooil giant of Saudi Arabia ($ 2.01 trillion), Microsoft ($ 1.70 trillion) e Alphabet ($1.17 trillion).