Here's Why Amazon Stock Plunged Today

·2 min read
Here's Why Amazon Stock Plunged Today

As of 3:15 p.m. EDT, Amazon's stock price was down more than 7%. Amazon's net sales jumped 27% year over year to a staggering $113.1 billion, fueled by strong gains in its cloud computing and advertising businesses. Amazon's "other" segment, which is mostly comprised of advertising-related sales, saw even more impressive gains, with revenue rising a blistering 87%.

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