Amazon.com AMZN Stock Price After the 2000 Dot.Com Bubble Stock Market Crash
Amazon.com (Ticker Symbol: AMZN) is an American multinational electronic commerce company with headquarters in Seattle, Washington, United States. It is the world’s largest online retailer. The company also produces consumer electronics — notably the Amazon Kindle e-book reader and the Kindle Fire tablet computer and is a major provider of cloud computing services.
Amazon was incorporated in 1994, in the state of Washington — In 1996, it was reincorporated in Delaware. In July 1995, Amazon.com the company began service and sold its first book online.
Amazon issued its initial public offering of stock on May 15, 1997, trading under the NASDAQ stock exchange symbol AMZN, at a price of $18.00 per share.
Its stock price skyrocketed during the dot-com bubble, with Amazon.com stock closing at an all-time high of $89.38 per share on January 3, 2000. However, after the Dot.com Bubble burst, it settled at a post-bubble low of $5.97 per share on September 28, 2001.
If you bought just 1 share of Amazon.com for $18.00 on May 15, 1997 — you would currently own 12 shares and it would be worth $3,135.24 adjusted for stock splits as of September 14, 2012.
Amazon’s initial business plan was unusual. The company did not expect a profit for four to five years. Its “slow” growth provoked stockholder complaints that the company was not reaching profitability fast enough. When the dot.com bubble burst, and many e-companies went out of business, Amazon persevered and finally turned its first profit in the fourth quarter of 2001.