A Lengthy Amazon Streak Ends
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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: Bespoke Investment Group, LLC believes all information contained in this report to be accurate, but we do not guarantee its accuracy. None of the information in this report or any ...
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