In May, 1997 Amazon (AMZN) was labeled Amazon.toast and Amazon.bomb by Forrester Research and Barron's. Since then it has risen more than 5,000 percent.
Highlights:
- Amazon was founded in 1994, and went public in 1997.
- In 1997, Amazon was labeled Amazon.toast and Amazon.bomb by Forrester Research and Barron's.
- By 1999, cumulative losses at Amazon exceeded $550 million.
- In December, 1999, Jeff Bezos was chosen as Time magazine's person of the year (see Cover).
- In December 1999, Amazon reached its highest raw price in history at $113 a share.
- In the summer of 2000, an analyst at Lehman Brothers warned investors that the company might run out of cash and advised them to avoid its stock.
- In September 2001, Amazon dropped to its lowest raw price in history--$5.67 a share.
- In October, 2007 Amazon traded over $100 a share for the third time, and the first time since 1999.
- The split adjusted price of Amazon dating back to 1997 is $1.31 a share.
- On March 23, 2009 Amazon closed at $75.61 a share, its highest price since falling to $34.68 a share in November, 2008.
- Amazon is currently up more than 50 times its adjusted initial public offering price, or 5,700 percent.
A month after Jeff Bezos' was named Time's person of the year, the company fired 150 workers as part of an internal reorganization. Just five days later, Amazon reported a loss of $323 million for the holiday fourth quarter and promised that future losses would be lower. (The company, however, would later exceed that amount by more than $200 million).Follow All American Investor on Twitter
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