'Amazon Used Secret 'Project Nessie' Algorithm To Raise Prices; Amazon Made More Than $1B In Revenue Through Use Of Project Nessie Algorithm' - Wall Street Journal
Portfolio Pulse from Benzinga Newsdesk
According to the Wall Street Journal, Amazon used a secret algorithm, known as 'Project Nessie', to raise prices. This strategy reportedly generated over $1B in revenue for the company.
October 03, 2023 | 4:46 pm
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Amazon's use of a secret algorithm to raise prices has reportedly generated over $1B in revenue. This could potentially lead to regulatory scrutiny.
While the use of the 'Project Nessie' algorithm has reportedly generated significant revenue for Amazon, it could potentially attract regulatory scrutiny. This could have a neutral impact on the company's stock in the short term, as the potential benefits from the increased revenue could be offset by the potential risks of regulatory action.
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IMPORTANCE 75
RELEVANCE 100