Amazon Pares the Equivalent of Target’s Market Cap in Plunge
- Retailer loses about $130 billion in market cap post earnings
- Loss greater than market cap of 435 other S&P 500 companies
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The bigger they are, the harder they fall.
Amazon.com Inc.’s shares plummeted as much as 8.1% Friday after the retail giant reported sales below analyst estimates for the first time since 2018.