Why Amazon Stock Dropped Today
Shares of Amazon.com (NASDAQ: AMZN) fell 7.5% on Thursday, furthering the recent plunge in the e-commerce-titan's stock price.
E-commerce companies are struggling. That's the upshot of a slew of recent earnings reports from online retailers and marketplaces.
E-commerce businesses are facing a host of challenges right now. Inflation -- including sharply higher food, energy, and housing costs -- is taking a toll on the U.S. consumer. Shoppers in many other countries aren't faring much better, and that's forcing consumers around the world to pull back on their spending. And when they do shop, many people are doing their buying inside traditional retail stores, now that coronavirus-related restrictions in many areas have been lifted.
Source Fool.com
