Amazon Stock Is Sliding Monday: What's Going On?
Portfolio Pulse from Adam Eckert
Amazon shares are down following a downgrade by Wells Fargo and a federal judge's decision to allow the FTC's antitrust lawsuit to proceed. Wells Fargo downgraded Amazon due to slowing growth and competition, while the FTC lawsuit alleges Amazon's monopolistic practices.
October 07, 2024 | 8:17 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
Amazon's stock is under pressure due to a downgrade by Wells Fargo and a federal judge allowing the FTC's antitrust lawsuit to proceed. The downgrade cites slowing growth and increased competition, while the lawsuit alleges monopolistic practices.
The downgrade by Wells Fargo from Overweight to Equal-Weight, along with a reduced price target, signals concerns about Amazon's growth and competition. Additionally, the FTC lawsuit proceeding adds legal pressure, potentially affecting investor sentiment negatively.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100