tl;dr
Amazon (NASDAQ: AMZN) may face regulatory hurdles in 2024 when the U.S. Consumer Product Safety Commission issues an order that would classify its online retail business as a distributor of goods. This move could hold Amazon responsible for the safety of products it sells for outside vendors and shi...
Amazon (NASDAQ: AMZN) may face regulatory hurdles in 2024 when the U.S. Consumer Product Safety Commission issues an order that would classify its online retail business as a distributor of goods. This move could hold Amazon responsible for the safety of products it sells for outside vendors and ships through its logistics network. The Wall Street Journal's report on this matter coincides with Amazon's upcoming earnings report, expected to reveal record revenue for the holiday quarter, as well as substantial growth in its AWS and Prime businesses. With 22 out of 23 EPS revisions from analysts pointing upwards, Amazon's stock was up 1.20% in premarket trading on Thursday.
More about Amazon.com Inc
Amazon.com, Inc. is a dominant player in the retail-catalog and mail-order houses industry, with a market capitalization of $1.6 trillion. The stock has shown a 1.91% increase in the latest trading session, reaching $183.67 per share. Market sentiment remains bullish on Amazon, as the company continues to be a major force in e-commerce, cloud computing, digital streaming, and artificial intelligence. However, with a Relative Strength Index (RSI) of 53.95, the stock is not overbought or oversold, indicating a neutral stance. Investors should closely monitor support and resistance levels, as well as potential breakouts and head and shoulders patterns, to gauge the stock's future performance. It's important to note that past market behavior is not always a reliable indicator of future performance, and there may be potential risks or uncertainties associated with investing in Amazon.com, Inc.
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