Amazon’s stock drops by 51% of its value in 2022

The stock of the e-commerce giant has dropped 51% in 2022, the largest drop since it dropped 80% in 2000.

Tesla was also down 68%, and Meta was down 66%. Amazon’s market value has fallen from $1.7 trillion at the start of the year to approximately $834 billion currently.

Amazon began what are expected to be the largest corporate job cuts in company history last month, with the objective of laying off up to 10,000 employees. The new CEO has also begun a thorough assessment of the business’s costs, which has resulted in the termination of many programmes and a hiring freeze for the whole corporate personnel.

Several analysts have reduced their forecasts for 2023, citing persisting macroeconomic concerns, continued slowness in online shopping, and cloud computing.