One of the most well-known brands on the planet, Amazon, has become the first company to lose $1 trillion in market capitalization value. The loss is recorded as the largest in history and proves to be the second time this year that the company has suffered this type of exponential loss.
Last month, Bloomberg reported on Amazon’s earlier loss of trillions of dollars in market value. Since that publication, the company has recovered and depreciated to a figure lower than last month’s figures. The current market cap is $868.68 billion.
JUST IN: Amazon $AMZN becomes the first company to lose $1 trillion in market value, the biggest loss in history.
— Watcher.Guru (@WatcherGuru) December 20, 2022
Amazon Loses $1 Trillion In Market Value
Few companies are as well-known and as universally used as Amazon. Since the pandemic, perhaps no service has had such widespread appeal and use as the Amazon platform. The last two months, however, have proven to be a different story in its market value.
In early November, Amazon boasted a loss of $1 trillion in market value. It was a figure that was the result of economic circumstances, monetary policy and the sale of shares. In that time frame, the e-commerce stock fell more than 4%, reaching a market value of $879 billion.
In contrast, this month saw a similar drop. After Amazon regained the $1 trillion mark, current circumstances have seen its market value reach $868.68 billion. Subsequently, the decline comes after a record close of $1.88 trillion just two years ago.
Economic factors certainly weighed heavily on the losses, with recessionary fears at the center for much of the past few months. Consequently, Amazon is not alone in its massive losses. All tech companies have collectively experienced nearly $5 trillion in market value losses this year alone.
After the pandemic years that were so beneficial for Amazon, the post-pandemic habits of consumers have had an adverse effect. Slowing sales caused the stock to fall 50% in the past two months. In addition, it acts as a precursor to loss records in December.
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