Amazon shares drop nearly 20% after this announcement 

Amazon shares has been dropped close to 20% in after-hours trading on Thursday

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After which there was a huge fall in the stock of this company.

Amazon has struggled to contain costs as inflation and rising interest rates have taken their toll

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The company has slowed the rollout of new facilities, leased out some warehouse space and enacted a hiring freeze in parts of its business.

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For the three months ending on 30 September, Amazon reported sales of $127.1bn, slightly less than analysts had expected

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The company made a profit of $2.9bn after two quarters of losing money

But it was Amazon’s guidance on the holiday quarter that worried investors.

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Amazon shares has been dropped close to 20% in after-hours trading on Thursday

Pic Cre- social media

Pic Cre- social media

company said recently that its all-important holiday shopping season would be smaller than expected.

After which there was a huge fall in the stock of this company.

Pic Cre- social media

Amazon has struggled to contain costs as inflation and rising interest rates have taken their toll

Pic Cre- social media

The company has slowed the rollout of new facilities, leased out some warehouse space and enacted a hiring freeze in parts of its business.

Pic Cre- social media

For the three months ending on 30 September, Amazon reported sales of $127.1bn, slightly less than analysts had expected

Pic Cre- social media

The company made a profit of $2.9bn after two quarters of losing money

Pic Cre- social media

But it was Amazon’s guidance on the holiday quarter that worried investors.

Pic Cre- social media

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