Why are the shares down so badly? I'm out of the loop.
replies(4):
The less obvious reason is that Amazon retail growth doesn't seem to have as much of a long-term due to:
1) Market saturation
2) Declining customer service
3) Fakes, frauds, and cons
... and so on.
A lot of this might have happened due to poorly handling the covid-19 surge. Somehow, whatever made Amazon work before stopped working. It's now been going on for long enough that Amazon is losing reputation, and people (or at least I) am sceptical it can be fixed. Or perhaps it's related to Andy Jassy taking helm.
In either case, a lot of people I know have been trickling away from Amazon. It's not enough to make a dent yet, but it's definitely not growth.