On this same day a decade ago, Amazon.com closed at 41.56 points. Today the tech giant fell by more than 76.27 points. For most companies, a drop like that might be a real concern. Due to Amazon’s massive growth over the past ten years, though, it only represented 4.45 percent.
Amazon.com’s stock is now at 1636.16, which makes it the most expensive stock on the Entrepreneur Index. It also represents about a 4,000 percent return on investment since 2008.
There’s no doubt the online retailer has been good to its investors so far. Whether that trend will continue, however, is a matter for some debate. According to TradingView, Amazon is listed as a strong sell, with 16 experts recommending to sell the stock, nine remaining neutral and only 1 recommending to buy the stock.
Other tech stocks were also down on Monday. Alphabet Inc. (formerly Google) was down 2.58 percent, while Facebook was down 2.35 percent. Netflix shares dropped by 3.1 percent.
The Index itself tended to follow the trend set by technology companies, falling 2.44 percent on the day. In fact, most of the Entrepreneur Index was down today — of the more than 50 companies listed on the Index, only 12 had positive days.
However, there were a few bright spots. The biggest riser on the day was L Brands, the company behind Victoria’s Secret and Bath & Body Works. L Brands was up 1.42 percent.
The Entrepreneur Index™ collects the top 60 publicly traded companies founded and run by entrepreneurs. The entrepreneurial spirit is a valuable asset for any business, and this index recognizes its importance, no matter how much a company has grown. These inspirational businesses can be tracked in real time on Entrepreneur.com.
Source: Entrepreneur.com
Amenorhu kwaku is an author, internet marketer, and entrepreneur. He is the founder of SuccessValley, a network community for students and aspiring entrepreneurs. He is also the founder of Republik City News and Whoop, a news portal and a business directory.
