Why Amazon Pulled Back Today
Shares of Amazon (NASDAQ: AMZN) were falling on Friday, down as much as 3.2% at one point on the day.
Amazon has had a pretty strong year, with a 72.3% gain year to date even after today's pullback. So, it was perhaps not surprising that the stock fell amid not one but several negative headlines hitting the tape all at once this morning.
These included a new consumer-sentiment reading, notes from analysts on a potential Federal Trade Commission (FTC) lawsuit, and a negative rumor regarding semiconductor demand, which could indicate a slowdown in cloud business growth.
Source Fool.com
