A member of the Pres. Trump administration has officially confirmed that Amazon as put in a bid to buy TikTok.
Shares of Amazon are currently up $5.39 at $197.52. That is just off the high of $197.64. Amazon’s 200 day moving average is within sites at $200.31. Last week, the price moved above that moving average on its way to a high near $206.21 but gapped lower on Friday’s trade and extended to new 2025 lows at $184.40 before rebounding modestly yesterday and much more today.
At lows this week, the price decline has been 25% from the 2025 high reached on February 14.
Meta shares which fell to a low off the initial reports to a low of $573.36, have since rebounded, and their shares are now up $5.50 or 0.94% at $591.10.
This article was written by Greg Michalowski at www.forexlive.com.