Living Social Helping Amazon Immensely (AMZN)

Living Social, the Groupon clone which received a $175 million investment from Amazon AMZN a few weeks back, is raking in the cash today, as it has been selling $20 Amazon gift cards today for $10. So far, it's sold over 550,000 gift cards, which is worth more than $10 million in gift cards. This has proven to be a huge deal for Living Social, and Amazon, as it continues to attract major interest in group coupon websites. At last check, shares of AMZN were off $3.76 to $187.49, a loss of nearly 2%.