Amazon cautions: No matter what you are selling, when such events happen people shop less

Amazon reported a surge in quarterly profits on Thursday, August 1, surpassing analyst expectations. However, the e-commerce giant fell short of revenue estimates, sending its stock plummeting in after-hours trading. Despite earning $13.5 billion in the April-June period, a significant increase from the previous year’s $6.7 billion, investors were disappointed by Amazon’s revenue forecast for the upcoming quarter.