The historic rout in Amazon.com Inc.’s shares last week highlights how difficult the environment has become for e-commerce stocks after their pandemic-driven boom, with investors set for another roller coaster in coming days.
Etsy Inc., Wayfair Inc. and Shopify Inc. are hurtling toward earnings reports this week in the shadow of Amazon’s worst selloff since 2006. The tech giant triggered the rout with a weaker-than-expected revenue forecast, adding to evidence of slowing e-commerce growth.
“It’s a canary in the coal mine,” said Oktay Kavrak, a director and product strategist at Leverage Shares. “If Amazon is hitting a speed bump, other names could crash. People were expecting a slowdown in growth following the pandemic, but I don’t think they expected as drastic a drop as we saw.”
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