Amazon stock on track to break its longest losing streak in 3 years

04.11.2022

Amazon.com Inc. shares rebounded 1.1 percent in premarket trading on Friday, which for now allows them to break a seven-session losing streak that was the longest since falling for eight straight days through Aug. 5, 2019. The rebound came as technology-heavy Nasdaq 100 index futures rose 0.6 percent and S&P 500 index futures rose 0.6 percent.

The e-commerce giant’s stock has fallen 25.95% in the past seven sessions, its worst performance since falling 26.04% in the seven-day period ending Nov. 19, 2008. That said, keep in mind that over the past four days, the company’s stock gained at least 1% in early intraday trading and then reversed and lost ground.