Amazon hit with $28 billion antitrust complaint
Amazon shares are on the backfoot after the European Commission filed formal preliminary antitrust charges against the company this week. If successful it could cost Amazon more than $28 billion which is about 10% of the company's global revenue.
The antitrust complaint is over the way Amazon uses data from third-party sellers. The European Commission believes that it uses data from its third-party sellers to develop its own retail strategies which means Amazon is benefiting from being a marketplace operator and a competitor to its own users through launching its own products within the same marketplace.
A statement from Competition Commissioner Margrethe Vestager said: "We must ensure that dual-role platforms with market power, such as Amazon, do not distort competition. Data on the activity of third-party sellers should not be used to the benefit of Amazon when it acts as a competitor to these sellers."
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How to trade Amazon with Admiral Markets UK Ltd
If you are feeling bullish or bearish on the share price of Amazon you can speculate on the direction using CFDs. To get started, follow these five simple steps:
- Log in to your existing Admiral Markets trading account, or open a live or demo trading account in just a few minutes.
- Click Trade on your chosen account which will direct you to the Admiral Markets MetaTrader Web Platform.
- Type in Amazon and choose your instrument at the bottom of the Market Watch search box and then drag the symbol onto the chart.
- Use the one-click trading feature on the chart or right-click on select Trading -> New Order.
- Choose your entry, stop loss and target levels and position size (volume) and then confirm the trade.
Source: Admiral Markets MetaTrader 5 Web, #AMZN, Weekly - Data range: May 11, 2014, to Nov 13, 2020, performed on Nov 13, 2020, at 6:53 am BST. Please note: Past performance is not a reliable indicator of future results.
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