Amazon Stock is Down 50% From Its High. Time to Buy?
Amazon (NASDAQ: AMZN) shares reached an all-time high of $186.57 on July 8, 2021, amid the COVID-19 pandemic when home-bound consumers flocked to the e-commerce giant for necessities.The company's stock has since fallen 50%, suffering from a stock market sell-off in 2022. Amazon has been hit particularly hard as rises in inflation have led to reduced consumer spending.
With a majority market share in e-commerce and cloud computing, an investment in Amazon seems like a no-brainer. However, as the likelihood of a recession in 2023 rises and Amazon's cloud computing business experiences slowing growth, other companies' stocks look more attractive.
Here's why it's a good idea to hold off on investing in Amazon, despite its significant decline in share price.
Source Fool.com
