A Lengthy Amazon Streak Ends

By Staff of Bespoke Investment Group

Financial Research, Money Management • Apr 11, 2024 at 5:41 PM EDT

Amazon was the latest mega-cap to make a new all-time high today after experiencing a drawdown of 50% during the 2022 bear market for stocks.

white Amazon echo dot

Image Source: Unsplash

Amazon (AMZN) was the latest mega-cap to make a new all-time high today after experiencing a drawdown of 50% during the 2022 bear market for stocks.

Getting back to Amazon (AMZN), below is a five-year price chart of shares showing today's breakout to a new all-time closing high:

Below is a look at the historical percentage drawdown from all-time highs for Amazon (AMZN) since it went public in the late 1990s. By the early 2000s, AMZN shares had experienced a 90%+ drawdown from their Dot Com Bubble highs.If you were lucky enough to buy near those lows and you still own shares today, congratulations. You're rich!

The new all-time closing high today ended a streak of 693 trading days without a new all-time high for AMZN shares. As shown below, that was actually the 2nd longest streak of days without a new high for AMZN in its history. And now it's over...

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Disclaimer:

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