Amazon stock erases pandemic gains
The stock closed at $2,177.18 on Tuesday
By Yashasvini Razdan
Published - May 10, 2022, 05:29 PM ET
Last Updated - Feb 26, 2024, 03:08 PM EST
Amazon Inc (NASDAQ: AMZN) has lost almost all the gains that it made during the pandemic after falling rapidly, specially after it reported its first quarter results last week.
The stock has fallen more than 40% from the company’s year-to-date intraday high of $3,773.08, which it hit July 13, 2021.
The stock closed at $2,177.18 on Tuesday, up just 0.06% from Monday. The last time Amazon traded around these prices was on February 20, 2020, when the stock reached an intraday high of $2,176.79, reported CNBC.
Fall of e-commerce stocks
