Why Amazon (AMZN) Stock Is Down Today

NEW YORK (TheStreet) -- Amazon  (AMZN) fell 3.25% to $322.78, down $10.84 from its previous close of $333.62, at the close of trading on Friday after the Nasdaq  (QQQ) and tech stocks in particular were hit hard throughout the day.

One factor driving down the Nasdaq was the March jobs report, which stated that employers added 192,000 jobs in the U.S. during the month thanks to better weather; but the unemployment rate stayed the same because more people were looking for jobs.

Investors also turned on tech stocks on Friday, which sent companies such as Amazon, Facebook  (FB) and Netflix  (NFLX), among others, into dives. The Nasdaq dropped off 2.66% by the close of trading to lose last week's gains and hit a two-month low.

Amazon had a range of $315.61 to $335.41 for the day and $245.75 to $408.06 for the year. More than 11.3 million shares changed hands, well above the average volume of 3,993,650.

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TheStreet Ratings team rates AMAZON.COM INC as a "hold" with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:

"We rate AMAZON.COM INC (AMZN) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, impressive record of earnings per share growth and compelling growth in net income. However, as a counter to these strengths, we also find weaknesses including generally higher debt management risk and poor profit margins."

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