Why Amazon Stock Was Sliding Today
Shares of Amazon (NASDAQ: AMZN) were pulling back today as the Nasdaq fell following the long Christmas weekend and on mixed news, including a Bloomberg report that showed the company is still trying to unload excess delivery capacity and stronger than expected holiday sales, according to Mastercard.
As of 12:27 a.m. ET, shares were down 1.3% after falling as much as 2.6% earlier in the session.
With the 2022 holiday season now in the books, Mastercard SpendingPulse reported that retail sales rose 7.5% from November 1 to December 24, essentially in line with inflation. That was better than Mastercard had predicted in September when it called for 7.1% growth, but still below last year's tally at 8.5%.
Source Fool.com
