Special Report
17 Terrible Investments by Amazon
February 25, 2023 9:29 am
Source: Courtesy of Haven Healthcare Advocates via Facebook
Haven
> Years operating: 2018-2021
> Business: Health care
Amazon, in collaboration with Berkshire Hathaway and JPMorgan Chase, attempted to offer an alternative to the often confusing and inconsistent coverage offered by the various private health insurers in this country. Haven, which was marketed as “simplified, high-quality, and transparent health care at a reasonable cost” did not catch on. A Harvard Business Review report on Haven’s demise points to the timing of the COVID-19 pandemic as a major factor in the health care company’s failure to survive more than three years.
Rivian
> Years operating: 2019-
> Business: EVs
Amazon’s most recent major failed investment, Rivian, is an electric vehicle company. It is also one of the main reasons Amazon reported an annual loss for the first time since 2014. Rivian has consistently struggled with supply chain problems, contributing to the EV maker’s stock price plummeting to a 52-week low earlier this year. With Amazon owning about 17% of Rivian, the investment cost the company $2.3 billion in the most recent quarter.
Sponsored: Tips for Investing
A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.
Editors' Picks
