Amazon shares have seen a significant drop this week as per the earnings report.
Investors suffered loss as Amazon shares dropped down by 6.3%. The stock report revealed the details about lowering of company’s stock.
Amazon shares fell from $103.93 to $1,538.88, after losing $139.36, or 7.8%. However, it is the lowest trading price since April, The 13.7% decline over two days is the biggest decline since February 2014, when the shares plummeted 14.1 percent.
Netflix, which like Amazon has been a favored stock for tech investors in recent years, is in the midst of a hefty two-day drop, down 9%. Amazon reported 3rd quarter revenue last week that trailed analysts’ estimates and also provided a 4th quarter outlook that was below expectations.