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Article: AMAZON OPENS YEAR IN TAILSPIN INTERNET RETAILER'S SHARES HIT 52-WEEK LOW.(News)
- Article from:
- Seattle Post-Intelligencer
- Article date:
- January 3, 2001
- Author:
CopyrightCOPYRIGHT 2001 Seattle Post-Intelligencer. All rights reserved. Reproduced with the permission of the Dialog Corporation by Gale Group. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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It looked more like the Grim Reaper than Father Time holding the door for Amazon.com and the Nasdaq, both launching the new year yesterday on the same sour note on which they closed 2000, their worst year ever.
Amazon.com shares dropped 10.9 percent yesterday to a 52-week low, far below the $89.38 per share the Seattle company's stock commanded a year ago, despite - the company says - successfully shipping 99 percent of its orders in time for Christmas.
The Nasdaq composite index lost 7.2 percent yesterday, its biggest percentage decline since April and its seventh-worst daily percentage decline in recent history.
The Seattle-based Internet ...