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Why Office Depot Inc Stock Tumbled Today

TheMotleyFool 
0 0 30.10.17
Why Office Depot Inc Stock Tumbled TodayPhoto, wide shot, wide-angle lens, Retail store, Midday, harsh overhead sunlight, directional sunlightt, photo by Peter Lik: https://img.midjourneyapi.xyz/temp/add1012b-1b24-4eb2-aba0-77ab52c7f8ad.png
 
Why Office Depot Inc Stock Tumbled Today

Shares of Office Depot Inc (NASDAQ: ODP) were tumbling today after the struggling office supply retailer was downgraded by J.P. Morgan. As of 11:27 a.m. EDT, the stock was down 13.3%.

Analyst Chris Horvers lowered his rating on Office Depot to underweight from neutral, explaining that the office supply category is shrinking, and that the company is losing business-to-business market share as it faces increasing competition from Staples as it goes private and Amazon.com, which recently launched a Prime service for businesses.  

Image source: Getty Images.

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Source: Fool.com

Amazon.com Inc. Stock

€237.40
0.630%
The Amazon.com Inc. stock is trending slightly upwards today, with an increase of €1.50 (0.630%) compared to yesterday's price.
Currently there is a rather positive sentiment for Amazon.com Inc. with 208 Buy predictions and 7 Sell predictions.
With a target price of 258 € there is a slightly positive potential of 8.68% for Amazon.com Inc. compared to the current price of 237.4 €.
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