Why Amazon Stock Lost 9% in October
Shares of Amazon (NASDAQ: AMZN) finished down 9% last month, according to data provided by S&P Global Market Intelligence. Disappointing fourth-quarter guidance in the third-quarter earnings report was the main reason for the stock's decline, but there were a number of other news items showing the company shifting into cost-savings mode as it announced hiring freezes or even full-on closures of some smaller divisions.
As you can see from the chart below, the stock tracked with the S&P 500 for most of the month but then diverged sharply when its earnings report came out.
Source Fool.com
