Market conditions for the tech industry have not been as kind in the latter half of 2022 as they were over the course of the Covid-19 pandemic. Since the onset of the pandemic in 2020, Amazon.com Inc. (Nasdaq: AMZN) and Microsoft Corp. (Nasdaq: MSFT) have both leapt past The Boeing Co. as Washington state's biggest employers. The day after Amazon reported its revenue had just barely missed analysts' estimates, the company laid off about 150 people from Amp, its live radio organization, according to a Business Insider report. Read More...
MarketWatch
Amazon’s stock reverses lower toward a 5th-straight drop, toward a 2 1/2-year low
Shares of Amazon.com Inc. sank 5.2% in midday trading, reversing an earlier intraday gain of as much as 2.1%, to put them in danger of a fifth-straight loss. The stock has tumbled 19.44% over the past five days. That’s a touch better than the 19.50% drop suffered over the five sessions to May 5, 2022, which was the biggest five-day drop since it plummeted 22.03% during the five-day stretch ended Nov. 20, 2008. Amazon’s stock, which was on track to close at the lowest price since April 3, 2020, c
Add Comment