Amazon Stock on Track to Snap Longest Losing Streak in 3 Years, for Now
Tiger Newspress2022-11-04
Shares of Amazon.com Inc. bounced 2.37% in premarket trading Friday, which for now puts them on track to snap a seven-session losing streak, which was the longest since it fell for eight-straight days through Aug. 5, 2019. the bounce comes as futures for the technology-heavy Nasdaq 100 rose 0.6% and futures for the S&P 500 gained 0.6%.
The ecommerce giant's stock had plunged 25.95% over the past seven sessions, the worst seven-day performance since it plummeted 26.04% over the seven-day stretch that ended Nov. 19, 2008. Meanwhile, keep in mind thatover the past four days, the stock rose at least 1% in early intraday trading, before reversing course to lose ground.
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