News-heavy Amazon closes at the same exact price three days in a row
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Amazon (NASDAQ:AMZN) traded flat on Thursday and closed at $125.98 after more than 53M shares were swapped. In a bit of a trading oddity, Amazon (AMZN) closed at $125.98 for the third session in a row. Over the last three days, volume on AMZN was over 190M shares.
Amid the e-commerce stock flatlining at $125.98 over the three-day period, there was plenty of news for investors to absorb. The FTC filed its highly-anticipated lawsuit against Amazon (AMZN) in a case that could take years to settle. Seeking Alpha analyst Tradevestor was quick to dismiss concerns over the FTC lawsuit and gave nine reasons to buy the pullback, one of which was that the legal challenge could accelerate a spinoff of the AWS business. Amazon (AMZN) also announced on Thursday that Panos Panay, the ex-product chief at Microsoft, will take over for Dave Limp as the tech giant's new devices and services leader. The company is also being targeted by retail giants Walmart (WMT) and Target (TGT), with both companies setting early holiday sales promotions to get in front of Amazon's (AMZN) Prime Day event scheduled for October 10-11. Add in to the mix, Amazon (AMZN) is only four weeks away from reporting Q3 earnings and giving its guidance for the crucial holiday quarter.
Shares of Amazon (AMZN) edged up 0.10% in postmarket trading to $126.11. Check back tomorrow to see if AMZN pulls off four closing prices in a row at $125.98.

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