This Warren Buffett Stock Survived the Dot-Com Crash and It's Still a Buy in This Bear Market
Scorching inflation and quickly rising interest rates sent the stock market into a nosedive this year. The S&P 500 dropped into a bear market in June, and the broad-based index has now declined in value for three consecutive quarters. That hasn't happened since the tail end of the Great Recession.
During the present downturn, Amazon (NASDAQ: AMZN) stock lost more than 50% of its value, marking its worst performance in the past decade. Many other stocks suffered a similar fate, and some will never recover. But Amazon has survived far worse, and it's well positioned to rebound again.
Founder and former CEO Jeff Bezos took the company public in 1997 at a split-adjusted price of $0.075 per share. Amazon quickly got swept up in the internet stock frenzy, and its share price climbed more than 7,000% by the end of 1999. But little more than a year later, those astonishing gains evaporated when the dot-com bubble burst, triggering a monumental market crash. By the autumn of 2001, Amazon had lost 94% of its value, and it took more than eight years for the stock to recover.
Source Fool.com
