Investors were potentially also cheering on the fact that Amazon said it will stop sending products to Russia and will temporarily stop access to its streaming platform.Īmazon backs a new EV rival Amazon puts its weight behind a hot newcomer to the EV scene, announcing a 20% stake in start-up Rivian just before the electric vehicle maker goes public. Shares rallied 6% in extended trading, so apparently investors were more keen on the good news – unsurprising considering the market rn.Amazon denies it, but we doubt regulators will give up that easily. Now for the bad: Amazon has been referred by the DOJ to a congressional committee for “potentially criminal conduct” by the company and its execs, who allegedly did not cooperate with a recent competition probe.It joins the list of other tech firms like Alphabet, Nvidia, and Tesla, who have recently announced stock splits for the same reason. The brand announced a 20-for-1 stock split on Wednesday, its first since 1999, in an effort to attract smaller (and more) investors. Amazon stock is about to get 20x cheaper. Amazon’s misdirect It’s a good news, bad news kinda day for Amazon, but the e-commerce giant seems to have won the headline battle.
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February 2023
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