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Amazon blew up way beyond what it should have been worth during the coronavirus hoax when the government was printing money like crazy and forcing everyone to stay in their houses and order everything they needed to live from Amazon.
Furthermore, the entire protocol of publicly-traded companies has become bogged down with ridiculous speculation, mostly due to the free flow of money and people needing somewhere to park the dollars that are constantly losing value.
That said, losing $1 trillion in value is quite a thing. Quite a thing indeed.
It’s been a bad few weeks for tech companies with the Twitter and Meta layoffs. Now, Amazon has just lost $1 trillion in market value.
For perspective, that’s almost like losing what Google’s parent Alphabet is worth, which is now around $1.13 trillion.
The loss makes Amazon the first public company ever to lose $1 trillion, according to Bloomberg.
Amazon stock has lost around 48% of its value this year alone, compared to July when the company’s market cap almost touched $1.9 trillion.
In November, Amazon’s market value fell below the $1 trillion mark, days after the company predicted a sales growth slowdown for the holidays.
Amazon isn’t the only tech giant that’s bleeding money; the top five American tech companies have already lost nearly $4 trillion in market value so far this year, thanks to rising inflation and a slow economy.
‘We are seeing signs all around that, again, people’s budgets are tight, inflation is still high, energy costs are an additional layer on top of that caused by other issues,’ Amazon CFO Brian Olsavsky told the reporters in a call on October 27.
It’s actually pretty nuts that the Democrats are willing to mess with people’s money this much. It’s not just your money they’re messing with. You might be struggling to pay for gas and food, and that’s more dire on a personal level than if you’re a billionaire and you lose 60% of your wealth. But wrecking the fortunes of billionaires is a lot more precarious for a government.
They can just tell the peasants that they don’t have money for basic needs “because reasons.” There is apparently no limit to what the modern American peasant will accept from the Democrat Party. People can barely meet their needs, and it’s getting much worse very fast; their kids are being turned into homosexuals, and the peasants say “well, we’re really just concerned about being able to have late term abortions.” The excuses they are giving – especially the Ukraine Democracy War – are just stupid and have nothing to do with anyone’s life. But the peasants accept it.
Rich people, however, are smarter and more engaged, and understand what is happening. They also have the ability to push back (at least in theory) through various means. Screwing over the wealthiest people in society is very bold.
