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Last: 207.67 (2026-03-13) | 1259 data points
Amazon snaps 9-day losing streak during which it lost more than $450 billion in value
Amazon shares closed up more than 1% on Tuesday, snapping a nine-day slide that shaved billions off of its market cap. The stock shed roughly 18% of its value between Feb. 2 and Friday, marking the worst losing streak since 2006 and axing more than $450 billion in market valuation as investors question the merits of its artificial intelligence spending plans. The selling frenzy around Amazon is tied to the company’s fourth-quarter earnings report released earlier this month. Amazon said it expects to spend $200 billion in capital expenditures this year, a nearly 60% increase from last year and more than $50 billion above Wall Street’s forecast. Most of the spending is expected to go to AI-related initiatives, which require more infrastructure such as data centers, chips and networking equipment.
US antitrust case against Amazon to move forward
The U.S. Federal Trade Commission's case accusing Amazon opens new tab of stifling competition in online retail will move forward, though some of the states that sued alongside the agency had their claims dismissed, court documents showed. U.S. District Judge John Chun in Seattle unsealed his ruling from Sept. 30, which dismissed some of the claims brought by attorneys general in New Jersey, Pennsylvania, Maryland and Oklahoma.
Amazon tells employees to return to office five days a week
Amazon CEO Andy Jassy is instructing corporate staffers to work out of the office five days a week. Previously, Amazon required employees to be in the office at least three days a week. Amazon is also flattening its corporate structure by having fewer managers in each organization.