(CercleFinance.com) – Amazon shares opened lower again on the New York Stock Exchange on Monday after suffering its sharpest daily decline since 2006 on Friday, following disappointing quarterly results.
After having fallen sharply by 14.7% on Friday, the stock fell another nearly 3% on Monday, bringing its decline since the start of the year to more than 27%.
With the intensification of inflationary pressures, investors fear that rising labor costs and rising transport prices will continue to weigh on the Seattle group’s distribution business.
The underperformance of the Internet giant – due to the sharp rise in inflation which penalized its profit margins in the first quarter – had already led many analysts to revise downwards their objectives for the technology company. last Friday.
Wedbush analysts hit the nail on the head this morning by announcing that they were removing the stock from their ‘Best Ideas List’ citing their ‘strict discipline’ in stock prices.
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