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Our work this week kicked off in China, dug into African startup activity, dealt with China once again, took a very deep dive into the Latin American startup ecosystemand wrapped with a second look at the Robinhood IPO. In other words, not much was really going on at all!
You may have been surprised to see Amazon’s stock fall off a cliff Friday. After all, the company posted huge revenue gains to just over $113 billion during the quarter. And AWS, its public cloud business, seemed to tick along nicely.
But investors had expected more growth and had priced the Seattle-based e-commerce player accordingly. When Amazon missed revenue expectations and projected Q3 2021 growth of “between 10% and 16% compared with third quarter 2020,” investors let go of its stock.