Amazon (AMZN) is currently trading down 6% after reporting earnings yesterday evening, April 30th. While it may seem like a rare move lower for Amazon, the fact is that big moves lower on earnings are nothing new for this mega-cap online retail/Tech company.

From our Earnings Explorer tool, below is a snapshot of all instances in which Amazon shares opened lower by 5% or more, following a quarterly earnings report. Today was the 27th time the stock has experienced a big selloff like this on earnings out of 75 quarterly reports since 2001. That’s 36% of Amazon’s quarterly reports!

For some perspective, even though the stock has opened down 5%+ on more than a third of its quarterly releases since 2001, it’s up 25,000% over this entire time period. 

Since its IPO in 1997, Amazon shares are up 180,000%. Thinking back to its early days as a public company during the Dot Com bubble, Amazon was one of those high-flying Internet stocks of the late 90's that experienced remarkable moves higher on a daily basis.

Below is a chart of Amazon during the Dot Com bubble and burst, showing a 7,000% rally at its peak in 1999 before giving up nearly all of those gains in a couple of years by 2001.

Amazingly, the Dot Com bubble, that was so frothy at the time, now barely registers on the chart of Amazon’s performance since its IPO in 1997. What a remarkable run it has been.