Why Amazon.com Inc. (AMZN) faced negativity on Monday?

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Amazon.com Inc. (AMZN) shares lost 0.15% in after-hours on Monday, July 12, 2021, and closed at $3,713.00 per share. Earlier in the morning session, AMZN’s stock lost 0.02% to close Monday’s session at $3718.55. AMZN shares have risen 16.20% over the last 12 months, and they have moved up 5.91% in the past week. Over the past three months, the stock has gained 10.04%, while over the past six months, it has declined 16.84%.

Strong results from SBD event in India

Amazon AMZN has experienced robust sales in its Small Business Days (SBD) event, which was conducted between Jul 2 and Jul 4 in India.

The event was organized for the upliftment of small and medium businesses (SMBs),
Around 1,700 small local shops recorded strong sales of office chairs, inverter and batteries, and Organic Tulsi tea, during the event.

Amazon will Monitor Peoples’ Sleep Habits Using Radar

On July 12, 2021, The Federal Communications Commission (FCC) has granted Amazon permission to go ahead with its plan to make a radar-based sleep tracking device. Amazon intends to make a device that uses radar sensors to monitor peoples’ sleep motions in a three-dimensional space.

Amazon services restored

Amazon online store services were restored after a global outage disrupted shopping on its country sites. The Amazon service was down for two hours and more than 38,000 user reports indicated issues with Amazon’s online stores.

The outage occurred on Sunday, July 11, in the United States and Monday morning for much of the rest of the world.

Amazon spokesperson confirmed that services have been restored fully after some customers temporarily experienced issues while shopping.

Biden’s executive order can create trouble for Amazon

On Friday, July, 10,2021, President Biden called on the Federal Trade Commission and Department of Justice to enforce existing rules and establish new ones that could interfere with the market domination of America’s biggest tech firms such as Amazon and Facebook.

The executive order from Biden calls on the FTC to makes it harder for companies to use their customers’ data to make competing products, just like Amazon has been accused of doing with its third-party sellers.

Tesco veteran to run Amazon’s brick-and-mortar stores

Amazon has chosen a long-serving senior Tesco executive to run its bricks-and-mortar retail operation, in the latest escalation of its attack on the high street.

Tesco’s chief executive Ken Murphy announced the departure of Tony Hoggett on Friday where he was working since 1990 and was promoted to a newly-created role of chief strategy and innovation officer in April.

Amazon appointed Tony Hoggett as a senior vice president of physical stores, reporting to Dave Clark, the worldwide head of Amazon’s retail business who told Amazon staff in an email that MrHoggett is going to be a “great Amazonian”.

Conclusion

There were few recent glitches for the biggest e-commerce company in the world due to which it suffered a minor loss in the stock market on Monday but it can recover such losses in no time. We can expect it to regain its positive momentum sooner than later.

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