Why Amazon Stock Is Down Today
Amazon (NASDAQ: AMZN) shares are sliding on Monday morning, dipping as much as 3.3% below Friday's closing price. That may not sound like much, but this single-digit percentage drop is taking roughly $30 billion off the e-commerce and cloud computing titan's trillion-dollar market cap.
A Politico report says that the Federal Trade Commission (FTC) is reviewing Amazon's business from several angles and may soon take enforcement action against the company. The potential lawsuits under consideration range from privacy worries to antitrust issues.
Politico's anonymous insiders say that regulators have privacy concerns about Amazon's smart home products, like the camera-equipped Ring doorbell and the Alexa-powered line of Echo assistants.
Source Fool.com
