Stocks
Amazon Stock Plunges 2.5% Amid Regulatory Risks and Insider Selling
Amazon.com (NASDAQ:AMZN) shares fell 2.5% during trading on Monday, closing at $259.77 after reaching a low of $257.12.
The decline in stock price was accompanied by a decrease in daily trading volume, with only 45,064,046 shares changing hands, down 7% from the average daily volume of 48,616,480 shares.
Despite this recent downturn, Amazon's AWS growth continues to be a major support for the company, with revenue increasing 36.7% year over year to $42.2 billion in the second quarter and a backlog reaching $496 billion.
The e-commerce giant is also expanding its AI infrastructure footprint, investing more than $5.3 billion in a Saudi Arabian cloud region and adding access to models from OpenAI, Meta, and Anthropic through AWS GovCloud.