com stock fell down 7.6% Friday, a day after the company posted lower-than-expected March quarter profits.
Revenue growth in the March quarter beat estimates, but costs rose, as the company hired 175,000 additional workers to meet a spike in e-commerce demand with many people working and learning from home.5 days ago
Why is Amazon stock falling?
Amazon shares fell about 2.5% in after-hours trading immediately following the release of the earnings report, but those declines lessened to about 1% after Chief Financial Officer Brian Olsavsky broke down Amazon’s increased spending in a later conference call. The stock was down 1.5% premarket Friday.
Why did AMZN stock drop today?
Amazon (AMZN) stock fell Thursday after the e-commerce giant reported third-quarter results that missed on the bottom line, but beat on revenue. Amazon stock dropped 6.5%, near 1,664, during after-hours trading on the stock market today.
Why is Amazon stock so high?
Amazon.com, Inc. (AMZN) stock is trading at an all-time high on Tuesday morning after the company announced that it will hire 75,000 workers to keep up with exploding demand triggered by the nationwide pandemic shutdown.
Is Amazon stock a good buy now?
Amazon stock is currently not a buy, though conditions are improving. The stock is currently in a consolidation phase, with a buy point of 2,185.95. Buying stocks in a bear market comes with a high risk. It’s wiser for investors to place well-performing stocks on their watchlist for further evaluation.