Amazon just closed its third straight day of losses

Key Points
  • Amazon closed Monday with its biggest two-day drop since February 2014.
  • The stock continued to decline for its third day since delivering a disappointing earnings report on Thursday.
  • October has been Amazon's worst month since 2008.
FANG stocks just off their lows at the open

Amazon closed its third straight day of losses Tuesday, dropping down 0.55 percent by the end of trading. It marked a 23.59 percent drop for the month of October.

The stock been on a steady decline since Thursday when it missed revenue estimates and delivered disappointing fourth-quarter guidance. October has been the worst month for Amazon since 2008.

At Monday's close, Amazon shed $103.93 or 6.3 percent. The stock was trading at its lowest level since April after suffering its biggest two-day loss since February 2014 at 13.7 percent.

Expert explains why Amazon's stock dropped, despite positive earnings report