Amazon.com Inc. (NASDAQ: AMZN) stock is currently down about 20% from its all-time high in February, placing it in bear market territory. While some of this decline is tied to the broader market’s downturn, the drop seems increasingly irrational given the company’s record-breaking earnings and continued long-term growth.
The stock is now back to levels seen last summer and not far above where it traded in 2021. However, just as the S&P 500 appears to have stabilized in recent sessions, so has Amazon.
