Amazon and the industry hint at slower growth in the second half of the year, and e-commerce stocks decline aggressively | Anue Juheng-US Stocks

E-commerce leader Amazon (AMZN-US), Pinterest’s recent earnings conference hinted that the growth of the e-commerce market will slow down in the second half of the year. Amazon plunged 8% in intraday on Friday (30th), and its market value evaporated 75 billion overnight.Dollar, Other e-commerce stocks have also been affected.

Amazon announced its after-market earnings report on Thursday, saying that as of the end of June this year, the second quarter revenue was 113.08 billionDollar, Which is lower than the 115.2 billion expected by the Refinitiv survey marketDollar, In addition, the estimated revenue for the third quarter is only 112 billion yuanDollar, Substantially lower than the market’s expected 118.9 billionDollar

According to Bloomberg statistics, this is the first time Amazon’s revenue has fallen below market expectations since 2018, and its financial estimates have not reached market consensus. Amazon also admitted that the explosive growth during the city closure last year created a high base period and became the main reason for the decline in the growth rate in the second quarter. It is expected that the growth rate will continue to slow in the next few quarters.

In addition to Amazon, investment bank Baird analyst Colin Sebastian said that Pinterest (PINS-US) And Overstock’s financial reports both revealed that the fluctuations in e-commerce consumer spending in the second quarter may continue into the third quarter.

Morgan Stanley believes that Amazon’s e-commerce revenue growth is slowing more than expected. Analyst Brian Nowak said: “We think this is related to the headwind of the economic restart. Each Prime member’s consumption growth may slow down.”

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In addition to growth concerns, Amazon also reported on Friday that it violated the EU data protection law and was fined 746 millionEUR (Approximately 888 millionDollar)’S sky-high fine, Amazon’s stock price fell 8.1% in intraday on Friday, the largest intraday drop since May 2020, with a final drop of 7.56% to 3,327.59 Dollar, A single day’s market value evaporated 75 billionDollar

In addition to Amazon, other e-commerce companies are also under huge selling pressure in the face of future growth concerns. The handicraft e-commerce platform Etsy (ETSY-US) Friday plunged as much as 7.8%, the biggest one-day drop since May. eBay (EBAY-US) Fell 7%, the biggest one-day drop in 4 years.

Wayfair (W-US) Fell as much as 8.3%, fell to the beginning of the year price, and closed down for eight consecutive trading days. In addition, Overstock (OSTK-US) Fell 4.3%, MercadoLibre (MercadoLibre) (MELI-US) Fell 4.4%, and the pet supply store Chewy (ALL of us) Fell 2.7%.

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