What's Going On With Amazon Stock Wednesday
Portfolio Pulse from Anusuya Lahiri
Amazon (NASDAQ:AMZN) stock is trading lower after the Federal Trade Commission (FTC) filed a case against the company for allegedly duping Prime customers. The FTC accused Amazon of using deceptive user-interface designs to trick consumers into enrolling in automatically renewing Prime subscriptions and making it difficult for them to cancel.
June 21, 2023 | 4:00 pm
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NEGATIVE IMPACT
Amazon's stock price is trading lower due to the FTC case accusing the company of deceptive practices related to Prime subscriptions.
The FTC case against Amazon directly accuses the company of deceptive practices related to its Prime subscriptions. This negative news is likely to impact investor sentiment and cause the stock price to trade lower in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100