Amazon Gets June Prime Day Announcement, Stock Falls
Amazon.com Inc. slipped 1.81% to $256.52 on Tuesday, with shares losing ground while the wider market pushed higher. The drop came as Amazon locked in a June Prime Day, offering a look at its retail plans before the quarter ends. Prime Day timing is key as the event has grown beyond coupons. Amazon is using it to get shoppers to buy groceries, household items and other repeat goods. The company is still spending big on artificial intelligence to drive automation and its cloud products.