Why Amazon Shares Are Diving Today

Amazon.com, Inc. AMZN shares are trading lower by 3.04% at $2,084.69. Shares of retail and e-commerce companies are trading lower In sympathy with Abercrombie, which fell following its first-quarter report amid increased freight costs. Retail earnings have also been largely negative in recent weeks amid supply chain issues.

Several companies in the broader technology space are also trading lower amid a continued selloff in stocks. The sector is also under pressure following Snap Inc’s SNAP second-quarter warning.

Snap shares are trading significantly lower Tuesday after the company filed a Form 8-K with the U.S. Securities and Exchange Commission showing it expects to miss its previously-issued guidance… Read More

See Also: Why Pinterest Shares Are Sliding Today

Amazon is a leading online retailer and one of the highest-grossing e-commerce aggregators.

According to data from Benzinga Pro, Amazon has a 52-week high of $3,773.08 and a 52-week low of $2,025.20.

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