What Is Going On With Amazon Stock Monday

by Anusuya Lahiri, Benzinga Editor
May 22, 2023 3:57 PM | 1 min read |
  • Amazon.Com, Inc AMZN stock is trading lower Monday amid reports of Alphabet Inc GOOG GOOGL YouTube proposing to undercut Amazon's streaming service charges by up to 10 bps.
  • YouTube follows similar moves by Apple Inc AAPL and Roku, Inc ROKU to compete with Amazon, the Information reports.
  • Simultaneously, Amazon trailed behind Walmart Inc WMT in India's battle for online consumers.
  • As per Redseer, Walmart-owned Flipkart has grown more quickly than Amazon in India.
  • Redseer flagged Amazon's significant gap with Flipkart making it difficult for them to bridge it, at least in the short term. 
  • Price Action: AMZN shares traded lower by 1.23% at $114.81 on the last check Monday.
  • Photo via Wikimedia Commons
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