Amazon's Stock Heads For Record Price Drop, By a Wide Margin
Amazon.com Inc.'s stock is on course to suffer on Friday the biggest-ever one-day price drop since the online retailing giant went public in May 1997. The stock's premarket plunge--down $58.35, or 9.2%--follows disappointing fourth-quarter results out late Wednesday. Until Friday, the biggest price drop was the $44.32 tumble (11%) it suffered on Jan. 31, 2014, according to FactSet data, while the next-biggest was the $38.90 (5.8%) slide on Jan. 4, 2016. The biggest percentage selloff was 25% ($3.97) on July 24, 2001. Through Wednesday, Amazon shares had gained 1.4% over the past three months while the S&P 500 had lost 9.4%.
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