Amazon Stock Hits 8-Year Low

The company announced its first reported quarterly loss since 2015, affecting more than 330 ETFs overall.

Amazon.com, Inc. (AMZN) dipped 12% on Friday after the company reported a net loss of $3.8 billion on Thursday in after-trading hours. The stock fell $348 in early morning trading, less than its share price from the previous day’s close at $2,903.65. 

In total, 332 ETFs hold AMZN shares, and the top five ETFs holding AMZN all have pretty heavy exposure. Those funds include the ProShares Online Retail ETF (ONLN) (24.06%); the ProShares Ultra Consumer Services (UCC) (23.60%); the Vanguard Consumer Discretionary ETF (VCR) (22.84%); the Consumer Discretionary Select Sector SPDR Fund (XLY) (22.71%); and the Fidelity MSCI Consumer Discretionary Index ETF (FDIS) (22.07%).

Active management funds top the list for ETF strategies holding AMZN, with 108. Vanilla ETFs are in second, with 58; followed by multifactor ETFs (28), fundamental ETFs (27) and equal-weight ETFs (27).

In the past 30 days, the Simplify Volt RoboCar Disruption and Tech ETF (VCAR) has seen the greatest growth as holders of AMZN, at 12.87%, followed closely by two risk-averse Direxion funds: the Direxion Daily Consumer Discretionary Bull 3x Shares (WANT) at 12.28%; and the Direxion Daily Select Large Caps & FANGs Bull 2X Shares (FNGG) at 11.72%. 

A pair of ProShares ETFs, the ProShares UltraPro QQQ (TQQQ) and the ProShares Ultra Nasdaq Cloud Computing (SKYU), have also seen similar growth, at 11.67% and 9.72%, respectively.

Of the 32.2 million AMZN shares held in ETFs, the top five funds with the most shares of AMZN—most of which follow the S&P 500—hold 18.9 million shares, or roughly 58.6%. The ETFs holding the most AMZN include the SPDR S&P 500 ETF Trust (SPY), the Invesco QQQ Trust (QQQ), the iShares Core S&P 500 ETF (IVV), the Vanguard S&P 500 Index Fund (VOO) and the Vanguard Total Stock Market ETF (VTI).

Reasons cited for Amazon's net losses include the company's investment in electric van maker startup Rivian, which netted a $7.6 billion loss in its investment this quarter, as well as the Russia-Ukraine conflict.

“The pandemic and subsequent war in Ukraine have brought unusual growth and challenges,” said Andy Jassy, Amazon's CEO.

This was the company's first reported quarterly loss since 2015.