AMAZON Stock closed at $19,929.75 on Thursday, down $5.49 or 0.5%.
The company said it was losing money.
Amazon said in a statement that its online retail business is losing money due to the increase in e-commerce activity in 2017 and a reduction in our overall retail volume.
“Our business is not generating any revenue,” it said.
Amazon has lost around $4.3 billion since its debut in 1997.
It is now valued at about $90 billion.
It has a large footprint in retail, but it does not offer any high-end products.
Amazon stock is up about 12% this year and has gained more than 20% this week.
The company’s stock has been trading around $20, up about 3% so far this year.
