Revelations 18:23:’For the merchants were the great men of the earth; for by thy sorceries were all nations deceived.’
Important Takeaways:
- Amazon is the First Company to Lose $1 Trillion in Market Value
- …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.
- 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.
- 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.
- Slowing sales led to shares falling 50% in the last two months. Moreover, acting as the precursor to the records losses in December.
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