Amazon.com, Inc. (NASDAQ:AMZN) shares were trading down by more than 1% on Friday, the same day it was revealed that Congress was looking at a bill to institute an online sales tax. For the full week, Amazon shares are up by just over 1.5%, and the year so far sees the firm’s shares up more than 6%. The new bill, which has so far garnered bipartisan support, would allow states collect taxes from out of state retailers who sell their wares over the internet. The deal would see prices on sites like Amazon.com, Inc. (NASDAQ:AMZN) go up as taxes increase. The bill…
Amazon Down As Congress Looks At New Online Tax
HFA Staff
The post above is drafted by the collaboration of the Hedge Fund Alpha Team.