Amazon is no longer a billion dollar. The company’s capitalization on the Nasdaq stock market fell below a trillion dollars for the first time since April 2020. The prices were influenced by the weak report of the corporation.
Amazon’s capitalization on the Nasdaq stock exchange at the Nov. 1 auction fell below $1 trillion to $960.3 million, according to data from the site. Shares of the company fell 3% to $94.2 a share.
Amazon stock prices were affected by the quarterly report, which the corporation published on October 27. In it, the company announced a 9% reduction in net profit to $2.9 billion and missed its revenue target. In addition, Amazon warned of a possible slowdown in sales in the fourth quarter.
Thus, Amazon withdrew from the so-called club of dollar trillionaires: companies with a market capitalization of more than $1 trillion. Apple ($2.4 trillion), Saudi Aramco ($2 trillion), Microsoft ($1.7 trillion), and Google parent Alphabet ($1.17 trillion) are currently in the club.
Author:
Kirill Bilyk
Source: RB
I am Bret Jackson, a professional journalist and author for Gadget Onus, where I specialize in writing about the gaming industry. With over 6 years of experience in my field, I have built up an extensive portfolio that ranges from reviews to interviews with top figures within the industry. My work has been featured on various news sites, providing readers with insightful analysis regarding the current state of gaming culture.
