Amazon stock has lost more value in the past month than the entire GDP of 23 countries and the market cap of 600 other stocks. | Source: (i) Drew Angerer / Getty Images / AFP (ii) Source: REUTERS/Mike Blake; Edited by CCN
Amazon stock’s market value fell by a whopping $28 billion in Monday’s stock market slaughter. Since July 18, when Amazon reported its quarterly earnings, it’s market value has declined by $103 billion.
How huge is this loss? Let’s put it into perspective and then figure out why AMZN stock is getting hit so hard.
Amazon Lost More Value Than Some Nations Are Worth
The $103 billion market cap loss for AMZN stock is larger than the GDP of the world’s 23 smallest economies.
That’s 2.5 times Tesla’s market cap and more than half of Disney’s pre-Fox-merger market cap.
Of the entire large-cap stock sector – meaning stocks trading at over a $10 billion market cap – Amazon stock’s one-day loss was larger than the market capitalizations of 616 other companies. That includes American Express, which is valued at just about $100 billion.
Today’s decline in Amazon stock’s market cap is larger than the entire market value of each of the following companies: United Parcel Service, AbbVie, 3M Company, NVIDIA, Altria, General Electric, U.S. Bank, Charter Communications, Qualcomm, Booking Holdings (formerly known as The Priceline Group), and hundreds of other companies you’ve heard of.
Why Is Amazon Getting Clobbered?
There are several factors influencing the recent price action in Amazon stock.
Amazon has always been a highly volatile stock.
As one of the FAANG stocks,