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Amazon (NASDAQ:AMZN | AMZN Price Prediction) has long set the pace in e-commerce, cloud computing through its AWS division, and as a leading force in artificial intelligence (AI) infrastructure. Yet the company is on the verge of a new record that investors neither expected nor wanted: If trends continue, Amazon will break its longest losing streak.
With Friday’s 0.4% tick lower to close at $198.79 per share, Amazon stock has now declined for nine consecutive days — matching its worst streak from all the way back in July 2006. If Monday sees another dip, it will surpass that mark. Investors may feel dismayed by the more than 18% fall since the streak began — erasing about $463 billion in market value — but in fact, they should be excited that Amazon is down so much.
The Drivers of the Recent Decline
The slide in Amazon’s stock picked up speed following its fourth-quarter earnings report earlier this month. While the…
