What's Going On With Amazon.Com Stock Wednesday?

Amazon.Com, Inc AMZN is amid multiple efforts to drive shareholder value.

The company raised the prices of Amazon Music Unlimited plans for Prime members and customers on the family plan from $8.99 to $9.99 per month or $89 to $99 per year. 

The Amazon Music Unlimited Family Plan is increasing from $15.99 to $16.99 per month, or $159 to $169 per year, TechCrunch reports.

The new prices will be effective immediately for new customers and after September 19 for existing customers.

In 2023, Amazon increased the price of the Amazon Music Unlimited Individual Plan from $9.99 to $10.99 per month for non-Prime members.

In July, Spotify Technology S.A. SPOT hiked its premium plans to $10.99 per month instead of $9.99, the duo plan to $14.99 from $12.99, and the family plan to $16.99 from $15.99.

Alphabet Inc GOOG GOOGL Google hiked the price of the YouTube Music plan from $9.99 per month to $10.99 per month. 

In 2022, Apple Inc AAPL Apple Music increased the price of its plan from $9.99 to $10.99 per month and the family plan from $14.99 to $16.99 per month.

Amazon's other shareholder-friendly efforts included designing custom microchips for AWS' generative AI training and downsizing loss-making divisions, logistics and delivery mechanism restructuring, and a grocery business overhaul.

The stock has gained 60% YTD.

Price Action: AMZN shares traded lower by 1.55% at $135.54 on the last check Wednesday.