Amazon shares are trading lower after the FTC filed a lawsuit against the company over its Prime sign up and cancellation process.
Portfolio Pulse from Benzinga Newsdesk
Amazon shares are trading lower after the Federal Trade Commission (FTC) filed a lawsuit against the company over its Prime sign up and cancellation process.
June 21, 2023 | 2:39 pm
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Amazon's stock price is trading lower due to the FTC lawsuit regarding its Prime sign up and cancellation process.
The FTC lawsuit directly targets Amazon's Prime service, which is a significant revenue source for the company. The negative news may cause investors to be concerned about potential fines or changes to the Prime service, leading to a short-term decline in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100