Amazon wiped out $17.5 billion from eight companies’ market values Thursday with just two announcements.
The e-commerce giant has become a force on Wall Street. Even a hint it might take on a new industry can send investors running and stocks tumbling. That was evident Thursday.
Amazon said it would recruit entrepreneurs to run local delivery networks, a move that could divert business from carriers FedEx and UPS. Together, the two companies lost nearly $3 billion in market value on Thursday, with UPS bearing the greatest losses.
A few hours after that announcement, Amazon said it would acquire online pharmacy startup PillPack, a deal that’s already shaking up the health-care industry. Sources told CNBC that Amazon paid roughly $1 billion for the company. News of the deal erased about $14.5 billion from drugstores Walgreens Boots Alliance, CVS Health and Rite Aid and drug distributors Cardinal Health, AmerisourceBergen and McKesson.
Walmart, which sources said bid on PillPack for less than $1 billion, lost $3.04 billion in market capitalization on Thursday.
52-week high: $274.66 on Jan. 18, 2018
52-week low: $203.13 on Aug. 11, 2017
Thursday’s market value loss: $823 million
Current market capitalization: $60.6 billion
52-week high: $135.53 on Jan. 18, 2018
52-week low: $101.45 on March 23, 2018
Thursday’s market value loss: $2.16 billion
Current market capitalization: $91.2 billion
52-week high: $83.89 on Sept. 12, 2917
52-week low: $59.07 on June 28, 2018
Thursday’s market value loss: $6.51 billion
Current market capitalization: $59.2 billion
.1530216590922.jpeg)
52-week high: $84 on Sept. 19, 2017
52-week low: $60.14 on March 27, 2018
Thursday’s market value loss: $4.34 billion
Current market capitalization: $66.9 billion
52-week high: $4.21 on June 28, 2017
52-week low: $1.38 on Nov. 9, 2017
Thursday’s market value loss: $235 million
Current market capitalization: $1.9 billion
52-week high: $80.11 on June 28, 2017
52-week low: $48.28 on June 28, 2018
Thursday’s market value loss: $795 million
Current market capitalization: $15.6 billion
52-week high: $106.27 on Jan. 29, 2018
52-week low: $71.90 on Nov. 2, 2017
Thursday’s market value loss: $818 million
Current market capitalization: $18.9 billion
52-week high: $178.86 on Jan. 29, 2018
52-week low: $131.43 on June 28, 2018
Thursday’s market value loss: $1.79 billion
Current market capitalization: $27.4 billion
-CNBC’s Christina Farr contributed to this report
Source: Tech CNBC
Amazon wiped out .5 billion from eight companies in one day