Nailed It: Amazon Becomes the First Company Ever to Lose $1 Trillion in Stock Value

TL;DR

This week, Jeff Bezos’ Everything Store became the first publicly traded company to lose $1 tillion in market valuation.To put that in perspective, that’s more than the combined GDPs of Turkey, Argentina, and Switzerland.“There is obviously a lot happening in the macroeconomic environment,” CEO Andy Jassy said following the third quarter earnings report.These lightsabers powered by Neopixels, LED strips that run inside the blade shape that allow for adjustable colors, interactive sounds, and changing animation effects when dueling.In a memo, Amazon Senior Vice President of People Experience and Technology Beth Galetti cited an uncertain economic outlook and a rise in hiring in recent years as the main drivers behind the slowdown."

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