Friday’s Headlines: Amazon Comes Full Circle

Friday’s Headlines: Amazon Comes Full Circle

Here were the biggest movers in the MyWallSt shortlist yesterday:

Moving Up ⬆️

Wix (WIX) +5.9%

Smartsheet (SMAR) +5.5% Group (TCOM) +5.4%

Netflix (NFLX) +4.2%

Nordstrom (JWN) +4.0%

Moving Down ⬇️

Baozun (BZUN) -9.4%

Upstart Holdings (UPST) -8.7%

ShotSpotter (SSTI) -4.8%

Wynn Resorts (WYNN) -4.0%

iRobot (IRBT) -3.7%

1. According to reports on Thursday in The Wall Street Journal, Amazon (AMZN) is expanding outside the web and into full-blown retail. The king of e-commerce will reportedly open giant, department store-like locations full of Amazon products, which are said to be close to 30,000 square feet, or roughly the size of a T.J. Maxx. The first locations will be in Ohio and California. Having been instrumental in what is now known as the ‘retail apocalypse’ — vast numbers of retail closures in recent years as people move to online shopping — Amazon appears to be making the most of its newfound status as the largest retailer in the world outside of China, having overtaken Walmart (WMT) last month. Read the original report here.

2. The U.S. Federal Trade Commission (FTC) is flexing its antitrust muscles once more, with Facebook (FB ) firmly in its sights. Reviving an old, ongoing case against the social media giant for reportedly ‘buying and burying’ any rivals, the FTC has provided a detailed, 80-page document that argues that Facebook holds a monopoly in the U.S. with 65% of all social media users on its platforms. Front and center of the complaints are Facebook’s acquisitions of Instagram (2012), and WhatsApp (2014). Facebook has come out and addressed the lawsuit, claiming that it would be fighting it in court, and refuting any claims of wrongdoing. Thought dead and buried, this case has cropped up once more, and could potentially spell trouble for Zuckerberg & Co. Read more here

3. It’s hard being an e-commerce company right now and trying to live up to 2020’s great heights. What’s tougher is being a Chinese tech stock that operates primarily in e-commerce, as evidenced by Baozun’s (BZUN) 9% dip following Q2 earnings yesterday. The firm reported full-year 2021 revenue growth of 7.1% to $356.9 million, falling short of the $373.4 million expected, with earnings per share of $0.31. Strict regulatory reforms from the Chinese government in 2021 have left many investors nervous about the fate of U.S.-listed stocks, leading to a steady decline, which has seen Baozun’s stock price, in particular, fall 44% year-to-date (YTD). This earnings miss will have done little to assuage those fears. Read the official press release here


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