Andy Jassy, CEO of the global “Amazon” company, stated that he does not pay much attention to the company’s share price, despite the shares losing half of their value in 2022, amid fears of a recession and a bad year for technology stocks in all fields.
“I don’t spend much of my time focusing on the share price,” said Jassy, noting that he prefers to look at the stock’s long-term performance, rather than focus on the intraday price.
He added, “At any time period, the stock may go up or down, but what really matters is what you do for clients over a long period of time.”
In this context, “Amazon” stock fell by nearly 50 percent during 2022, which is the largest annual loss since the collapse of the Internet bubble in 2000, when it fell by 80 percent.
The company’s shares have rebounded this year, up more than 18 percent since the beginning of the year, but the stock is still down about 35 percent from last year.
The stock decline also caused Jassi’s compensation to decline in 2022, when he earned about $1.3 million, according to securities filings.
But in 2021, when Jacy took over from founder Jeff Bezos, he had received a compensation package worth about $212 million, of which a large portion consisted of Amazon shares.