Amazon.com, Inc AMZN shares plunged nearly 5.5% on Tuesday, knocking the e-commerce giant out of the trillion-dollar club.
Tuesday's Knockout Punch: Amazon shares closed at $96.79 — 3.2% lower than the psychologically important $100 mark. The shares hit a fresh 52-week low of $96.51 on Tuesday.
This puts the company's market cap at nearly $987.45 billion as the Jeff Bezos-founded company has 10.202 billion shares outstanding, according to Benzinga Pro data.
Who's Still Standing: Even though Amazon has been kicked out of the trillion-dollar valuation group, there are still four other companies in it. Three of which are definitively tech giants.
Apple Inc's AAPL market cap was at $2.4 trillion, at the stock's closing of $150.65 on Tuesday. Another company that enjoys over a $2 trillion market cap is Saudi Aramco.
The Dhahran, Saudi Arabia-based public petroleum and natural gas firm is worth $2.04 trillion as of Tuesday.
Microsoft Corporation's MSFT market cap was at $1.7 trillion with the company's share price ending at $228.17 on Tuesday.
Google parent Alphabet Inc GOOGL GOOG Class A and Class C shares tumbled 4.3% to $90.47 and 4.4% to $90.50 respectively on Tuesday. The search-engine giant has a market cap of $1.17 trillion. But that trillion-dollar valuation could be in jeopardy.
Amazon shares have plunged 12.8% since it declared third-quarter results on Oct. 27. Google's Class A and Class C shares dropped 13.41% and 13.75%, respectively, since the company's third-quarter numbers.
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