Amazon and Alphabet (Google owner) are the world’s only two publicy traded companies that have surpassed the $1 trillion threshold in market cap. This, however, is not the only thing they have in common. Both have lost a substantial portion of their value in after hours trading following the reveal of their most recent earning reports. Jeff Bezos, the man behind Amazon, has lost $10 billion in equity value over the course of only one day.
Amazon depreciated 7%, while Alphabet plunged even more, losing 10% of the market capitalization. The two companies combined have lost over $90 billion in market value as a result of worse than expected quarterly results.
Facebook, Alphabet and Netflix have lost approximately 14% of value since July. The S&P 500 depreciated 4.6 percent over the same period of time.
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NOTE: This article is not an investment advice. Any references to historical price movements or levels is informational and based on external analysis and we do not warranty that any such movements or levels are likely to reoccur in the future.
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