Skip to content

Amazon stock price

    Amazon stock price

    Amazon stock price

    Amazon stock price fell after disappointing first-quarter earnings and a bleak second-quarter projection.

    The multinational technology company Amazon reported a net loss of $3.8 billion.

    However, they made an $8.1 billion profit in the same year. Refinitiv’s analysts’ $4.4 billion profit prediction was also a cry.

    Amazon’s stock price clarified the loss of $7.6 billion from its investment in Rivian Automotive, which is an electric vehicle manufacturer.

    Beck in 2019, Amazon led a $700 million investment.

    Since the blockbuster 2021, Amazon’s stock price has dropped by more than 75%. The stock price expiration happened just one day after Ford’s.

    A report said a $3.1 billion net loss for the first quarter. It was due to a $5.4 billion pre-tax charge linked to Amazon’s investment in Rivian.

    Without the loss at Rivian, Amazon would have made a $3.8 billion profit.

    Amazon CEO Andy Jessy said that the outbreaks and ensuing conflict in Ukraine have resulted in remarkable growth and problems.

    Amazon stock price


    Since Amazon no longer pursues physical or human resource capacity. Their teams are now entirely focusing on improving efficiency and cost savings across their fulfillment network.

    This plan may take some time, primarily dealing with persistent inflationary and supply chain challenges. But Amazon is seeing positive progress on several fronts.

    Amazon’s chief financial officer, Brian Olsavsky, said it increased inflation, gasoline prices, and labor shortages.

    He also added $2 billion to costs compared to the previous year.

    The drop in Amazon’s stock price earnings comes as the business faces criticism.

    The criticism was from its warehouse workers over wages and working conditions.

    Amazon then filed an appeal, requesting that the whole vote be re-run.
    In Bessemer, Alabama, a separate Amazon union election was held recently. With results that were too close to call.

    Both union movements were fueled by a desire to draw national attention to racial justice and labor rights issues.

    Employees are unsatisfied with Amazon’s treatment of the epidemic’s employees.

    By: Bahaar Abdullah

    Join the conversation

    Your email address will not be published. Required fields are marked *