Friday’s Headlines: Amazon Could Be Breaking Its Own Rules

Friday’s Headlines: Amazon Could Be Breaking Its Own Rules

Here were the biggest movers in the MyWallSt shortlist yesterday:

Moving Up ⬆️

ZM +12.5%

WYNN +8.6%

JWN +7.5%

TRIP +6.7%

EVH +6.4%

Moving Down ⬇️

BZUN -3.0%

SBUX -3.0%

TSLA -3.6%

PTON -4.1%

SMAR -6.6%

1. It seems Amazon can do no wrong right now. Despite allegations that it is in breach of antitrust regulations, its stock still hit yet another all-time high yesterday at $2,399.45 per share. According to a report from The Wall Street Journal, Amazon employees have accessed sales data from independent Marketplace sellers to help the company develop competing private-label products. Amazon has refuted these claims and vowed to launch an internal investigation into the matter. Amazon stock is up 23% in the past month. Get the complete story here.

2. Tesla found itself falling 3.6% in regular trading on Thursday, with after-hours movement continuing in the red. The fall comes amid announcements from the Chinese government that it will lower subsidies on electric cars and tighten eligibility for rebates, but also support swappable battery technology, a boost to homegrown Nio. China is the world’s largest electric-vehicle market, and will start by cutting subsidies by 10%, but will extend them until 2022 as opposed to the original plan of ending payments this year. Read the complete report here.

3. Shares in Wynn Resorts jumped 8.7% Thursday as casino stocks rallied on optimistic predictions for business. Las Vegas Sands executives predicted a quick rebound in gambling among the company’s properties across Asia and said it is seeking to use its cash for acquisitions. “I don’t think the Asian people have a problem at all,” Chief Operating Officer Robert Goldstein said on the call. “In fact, I think they’re going to welcome it and be anxious to get back to having fun.” Read the full story here.

JamieJamie

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