Amazon (AMZN) stock fell 3.3% on Monday and the company showed levels of up to $85. Amazon’s stock opened today at $87.51 and then went high at $87.63 and is still showing a steady decline.
Why Amazon Stock Continuously Falling For The Last Several Weeks?
- Evercore ISI’s Mark Mahaney has downgraded amazon’s stock or has put any downside to the company’s 2023 growth outlook or has changed the target from $170 to $20 or $150, which is a matter of concern.
- There is reason that large investors and mutual funds are worried about Amazon’s growth.
- That’s why everyone is giving negative rating on Amazon stock and giving targets of $20, $35, $40.
- And it is also that there are signs of a slight slowdown in the market, due to this also the stock of the company is falling.
Clean Energy Fuels (CLNE) was falling 2.3% Monday afternoon. The natural gas seller said it has opened a fueling station in suburban Chicago for Amazon.com (AMZN) that is expected to provide the online retailer with 1.4 million gallons of natural gas each year for its delivery fleet. The new station in Romeoville, Illinois, is the first of 19 natural gas fueling stations Clean Energy expects to build around the country for Amazon.
So What To Do Now in Amazon Stock?
According to us, Amazon is a very good company, this company can still show a decline for a short term, but If you have long term view then buy this company stock on deep and hold for long term.
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