#UPDATE Amazon on Thursday posted its first quarterly loss since 2015, as it was dragged down by its investment in electric truck maker Rivian, and warned of continuing challenges in the months aheadhttps://t.co/Av8oGVsikb
— AFP News Agency (@AFP) April 28, 2022
Amazon shares fall on bleak forecast and slowest growth since dot-com bust
Amazon shares dropped as much as 10% in extended trading on Thursday after the company issued a revenue forecast that trailed analysts’ estimates.
Amazon recorded a $7.6 billion loss on its Rivian investment after shares in the electric vehicle company lost more than half their value in the quarter. That resulted in a total net loss of $3.8 billion.
https://www.cnbc.com/2022/04/28/amazon-amzn-q1-2022-earnings.html
$AMZN was rejected at thr yellow trendline and earnings were terrible. Think it pullsback into the purple line the coming days/weeks. pic.twitter.com/1KjsIPWqMm
— HOZ (@MFHoz) April 28, 2022