🔴 Amazon is trading 3.3% down today after reported FTC lawsuit over alleged ad-price manipulation

Amazon is trading 3.3% down now at $257.65 after reports that the FTC plans to sue over alleged manipulation of advertising prices.

• The proposed action, backed by more than 20 state attorneys general, claims Amazon secretly raised advertisers’ baseline costs over seven years.
• The allegations could expose the company to substantial legal and financial risk. Broader markets are also lower, but the company-specific lawsuit is the clearer catalyst.