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What Is Going On With Amazon Stock Monday

Amazon.Com, Inc (NASDAQ:AMZN) stock is trading lower Monday amid reports of Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) YouTube proposing to undercut Amazon’s streaming service charges…
byAnusuya Lahiri
May 22, 2023
1 minute read
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  • Amazon.Com, Inc (NASDAQ:AMZN) stock is trading lower Monday amid reports of Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) YouTube proposing to undercut Amazon’s streaming service charges by up to 10 bps.
  • YouTube follows similar moves by Apple Inc (NASDAQ:AAPL) and Roku, Inc (NASDAQ:ROKU) to compete with Amazon, the Information reports.
  • Simultaneously, Amazon trailed behind Walmart Inc (NYSE:WMT) in India’s battle for online consumers.
  • As per Redseer, Walmart-owned Flipkart has grown more quickly than Amazon in India.
  • Redseer flagged Amazon’s significant gap with Flipkart making it difficult for them to bridge it, at least in the short term. 
  • Price Action: AMZN shares traded lower by 1.23% at $114.81 on the last check Monday.
  • Photo via Wikimedia Commons
 
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December 19, 12:41 PM
Canadian cannabis producer Organigram Holdings reported an 11% year-over-year increase in net revenue for the fourth quarter, reaching C$A161.6 million ($121 million). The company credited the growth to its focus on innovative products that meet consumer demand for convenience, such as pre-rolls and edibles. The increase in revenue contributed to a 71% rise in adjusted EBITDA to nearly CA$6m for the quarter, compared with the same period in 2022. Organigram's adjusted gross margin was CA$40.2m, up 20% on 2022. The company also reported a net loss of CA$248.6m, compared with CA$14.3m in 2022, due to impairments on property, plant and equipment, intangibles and goodwill. Organigram said it expects improved margins in future as efficiency gains from facility upgrades and expansion into higher-margin categories such as craft flower and vapes bear fruit.

OGI