Shares of Amazon.com Inc. slipped on Wednesday, underperforming the overall stock market. The company’s stock fell by 0.97% to $148.47, marking its third consecutive day of losses. This downward trend coincided with a grim trading session for the stock market, as the S&P 500 Index fell by 0.80% to 4,704.81 and the Dow Jones Industrial Average dropped by 0.76% to 37,430.19.
Despite the decline, Amazon.com Inc. came close to its 52-week high of $155.63, closing $7.16 short of that mark. When compared to its competitors, Amazon.com Inc. underperformed on Wednesday. While Apple Inc. saw a 0.75% decrease to $184.25, Microsoft Corp. experienced a marginal decline of 0.07% to $370.60. On the other hand, Alphabet Inc. Cl C recorded a 0.57% increase, reaching $140.36.
It is worth mentioning that the trading volume for Amazon.com Inc. remained below its 50-day average volume, with 46.8 million recorded, as opposed to the 51.6 million average. This data comes from Dow Jones and FactSet, with the story being auto-generated by an automation technology provider.
As the company experiences a decline in its stock value, investors and market analysts will be closely monitoring future developments to gauge the trajectory of Amazon.com Inc. in the coming days.
In conclusion, Amazon.com Inc. witnessed a decrease in its stock price on Wednesday, trailing behind the broader stock market and several of its key competitors. With continuous monitoring, market observers will be keen to see how the company rebounds from the recent decline and adapts to market conditions moving forward.
