One of the most well-known brands on the planet, Amazon, has become the first company to lose $1 trillion in market cap value. The loss is registered as the largest in history and proves to be the second time this year that the company has suffered these kinds of exponential losses.
Just last month, Bloomberg reported Amazon’s previous trillion-dollar loss in market value. Since that publication, the company has regained and depreciated to a number below last month’s figures. The current market cap is $868.68 billion.
Amazon Loses $1 Trillion in Market Value
There are few companies as well-known and as universally utilized as Amazon. Since the pandemic, there is maybe no service that has taken on such mainstream appeal and usage as the Amazon platform. The past two months, however, have proven to be a different story in its market value.
In early November, Amazon boasted a $1 trillion loss in market value. It was a number that was the consequence of economic circumstances, monetary policy, and the selling off of stocks. That time frame saw shares in e-commerce fall by upwards of 4%, reaching a market value of $879 billion.
Conversely, this month has seen a similar fall. Following Amazon’s regaining the $1 trillion mark, current circumstances have seen their market value reach $868.68 billion. Subsequently, the fall arrives following the record close of $1.88 trillion just two years ago.
Undoubtedly, economic factors have greatly impacted the losses, with the recessionary fears front and center for much of the last few months. Consequently, Amazon isn’t alone in the massive losses that it is experienced. All technology companies have collectively experienced nearly $5 trillion in losses in market value this year alone.
Following the pandemic years that were so beneficial to Amazon, post-pandemic habits from consumers have had an adverse effect. Slowing sales led to shares falling 50% in the last two months. Moreover, acting as the precursor to the records losses in December.