Home > Brands > Amazon > Amazon Shares Plunge After New Anti-Trust Probe

Amazon Shares Plunge After New Anti-Trust Probe

Amazon shares dropped almost US$18 on the share-market yesterday, after the European Commission (EC) announced a new anti-trust investigation into how Amazon uses data from third parties.

The investigation is said to centre around Amazon’s position as both a retailer and a merchant – selling products directly as well re-marketing products from third-parties.

“Based on the commission’s preliminary fact-finding, Amazon appears to use competitively sensitive information about marketplace sellers, their products and transactions on the marketplace,” said EU commissioner Margrethe Vestager.

Amazon could be fined up to 10 percent of its annual global turnover.

You may also like
Huge Stateside Expansion Boosts Afterpay
ASIC To Investigate ASX Crash
breville logo
Breville’s Share Prices Crash, Falling By 36.9% In The Last Month
Apple Stock Rebounds, Strongest Day Since 2018
Technology Stocks Take A Tumble As ASX Haemorrhages