$Amazon.com(AMZN)$ Shares of Amazon tumbled nearly 50% in 2022, a far worse performance than that of the broader market. The S&P 500 shed a bit less than 20% of its value last year as pandemic darlings were beaten to a pulp.
One reason for Amazon stock's terrible performance was its incredible performance leading up to this big decline. The stock rocketed 76% higher in 2020, fueled by strong growth for the company's cloud computing business and an unprecedented boom for the e-commerce industry. Amazon stock largely treaded water in 2021, holding on to those gains until last year.
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