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Why Amazon Stock Flopped Today

TheMotleyFool

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Is Amazon (NASDAQ: AMZN) currently shopping for a big asset overseas?

According to a media report published Monday morning, it is. The company is apparently among several entities mulling a bid for a unit of big German retailer Metro based in India. Although the American company has very deep pockets, this could be a pricey buy. On that thought, investors traded out of Amazon stock, which fell more than 3% in price on the day.

Citing "people familiar with the matter," Bloomberg said that several large companies are vying for the wholesale Indian operations of that German company, Metro. Thailand's Pokphand Group and Indian conglomerate Reliance Industries are two of these suitors, according to the sources. The third is Amazon.

Source Fool.com

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