Shares of Amazon.com Inc. (AMZN) rallied 4.8% in afternoon trading Thursday, and have now retraced nearly half what they lost as a result of the COVID-19 health crisis. The stock closed at a record $2,170.22 on Feb. 19, then fell $493.61, or 22.7%, to a one-year closing low of $1,676.61 on March 16. After rising $241.14, or 14.4%, amid a three-day win streak since that closing low, the e-commerce giant's stock has retraced 48.9% of the COVID-19 decline. As more retail stores announce closures ( ), Amazon has said that it was experiencing high demand for coronavirus-related items ( ), including disinfecting wipes, hand sanitizer and paper towels. Among shares of the other largest market-capitalization companies, Microsoft Corp. (MSFT) has retraced 21.4% of its COVID-19 selloff, Apple Inc. (AAPL) has retraced 6.8% and Google-parent Alphabet Inc. (GOOGL) has retraced 11.5%. Meanwhile, the Dow Jones Industrial Average has retraced just 2.0%, as it closed at a fresh low on Wednesday, while the Nasdaq Composite has retraced 9.6%.
-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
March 19, 2020 13:07 ET (17:07 GMT)
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