Home / Business / Amazon shares fall to the first bear market in 2 years and a half

Amazon shares fall to the first bear market in 2 years and a half

Amazon.com Inc. shares

AMZN, -6.33%

It fell by 7.3% on Monday afternoon, leading them to launch their first bear market in more than 2 and a half years. The shares of electronic commerce and the cloud giant, which were heading towards the lowest closing since April 26, 2018, have plummeted 14.5% in two days, as the company reported the results of the third quarter after the close Thursday, eliminating about $ 126.4 billion in the capitalization market during that time. That put the shares at 25.3% below their September 4 record close of $ 2,039.51. Many on Wall Street define a bear market as a decrease of 20% or more of a bullish market peak. Amazon's latest bearish market ended on March 1, 2016, when it closed 20.1% above its bear market low of February 9, 2016 of $ 482.07, which was 30.5% below the bull market's high of $ 693.97 on December 29, 2015. the so-called FANG shares, the massive sale of Amazon means that only the shares of Alphabet Inc., parent company of Google, are not yet in a bear market. Shares of Facebook Inc. fell 35.1% from its peak in the bull market and Netflix Inc.

NFLX, -5.00%

shares have lost 32.4% since their peak, while Alphabet shares were only 19.8% below their maximum. Meanwhile, the shares of Apple Inc.

AAPL, -1.88%

an honorary member "FAANG", has fallen only 8.2% below its maximum of the bull market. In comparison, the S & P 500

SPX, -0.66%

has lost 10% since its closing on September 20, 2,930.75.

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