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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NEGATIVE IMPACT
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