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October was not pretty for Amazon.
The company 's stock tumbled 20.2% in October, its worst month since sliding 25.4% in November 2008, during the heart of the financial crisis. Amazon climbed 4.4% on Oct. 31, ending the month at $ 1,598.01 a share.
It was Amazon's thirteenth-worst month on record. The company's all-time worst monthly performance came in February 2001, when the collapse of the dot-com bubble erased 41.1% of its share price.
| month | Amazon stock performance |
|---|---|
| February 2001 | -41.1% |
| December 2000 | -37.0% |
| September 2001 | -33.2% |
| November 2000 | -32.6% |
| May 1999 | -31.0% |
| July 2006 | -30.5% |
| July 2004 | -28.5% |
| August 2001 | -28.4% |
| November 2008 | -25.4% |
| June 2000 | -24.8% |
| August 1998 | -24.5% |
| October 2008 | -21.3% |
| October 2018 | -20.2% |
This month's plunge was triggered by third-quarter earnings released Oct. 25 that showed Amazon's most important businesses were slowing down. Growth in Amazon.com, commissions and services for third-party sellers, subscription products like Amazon Prime, and cloud-computing business Amazon Web Services all in the most recent quarter.
Amazon is also facing pressure of retailers looking to compete on selection and convenience. Walmart-owned Sam's Club is open to Amazon Go-like rental in Dallas, Texas, that lets customers skip the line by shopping and paying through an app. Target is doubling down on private-label brands-a merchandise category
October's selloff hit Jeff Bezos especially hard. Amazon's CEO lost $ 19.2 billion over two consecutive trading days, a record-setting decline, according to Bloomberg. Amazon's October losses sliced roughly $ 30 billion off Bezos's personal total fortune, which started the month at a whopping $ 165 trillion. Bezos remains the richest person in the world, with a comfortable lead on no. 2 Bill Gates's $ 93.4 billion net worth.
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