Amazon Sees Increased Institutional Investor Support Amid Worker Lawsuit

Atreides Management LP has bought a new position in Amazon.com, Inc. (NASDAQ:AMZN) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 969,629 shares of the e-commerce giant's stock, valued at approximately $231,101,000.

This represents about 1.6% of Atreides Management LP's investment portfolio, making Amazon.com its 12th largest position. Several other hedge funds and institutional investors have also recently modified their holdings in Amazon.com.

Cheap Amazon now faces another worker lawsuit alleging systematic discrimination against pregnant warehouse employees, which could increase legal costs and regulatory scrutiny for the company.