Amazon stock price plummets

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Source: Dukascopy Bank SA


At the start of Friday's US trading hours, the stock price of Amazon plummeted by 7.67% or almost 280.00 USD due to a string of bad news.

Among the news were a rare miss of forecast quarterly earnings, US Federal Drug Administration notice about harmful drug sales, a revealed decrease in sales growth and $886 million fine by the EU.

In regards to sales, Amazon net sales had risen by $113.08 billion instead of the market analyst average expected $115.20 billion.

In addition, on Thursday, the company itself revealed that future sales would slow down in the next couple of quarters, as customers around the world return to shopping outside their homes.

Meanwhile, the US Federal Drug Administration informed the company that weight-loss and sexual enhancement products on sale on the platform contained potentially lethal harmful ingredients.

Moreover, Amazon revealed on Friday that the European Union authorities had fined the company with $886.6 million fine for violations of the EU General Data Protection Regulation.
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