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00:02Amazon shares fell Tuesday as the stock continued to face pressure after the Federal Trade Commission
00:07and 22 states sued the company over its advertising marketplace, according to Benzinga.
00:13Regulators allege Amazon secretly added a soft reserve price in 2019 that caused advertisers
00:19to pay more than the conventional bidding system it marketed.
00:22Investigators allege the hidden change pushed the share of advertisers paying their full bid
00:27from about 30% to 40% in 2021 to nearly 80% by 2024.
00:33Amazon rejected the allegations, saying advertisers and consumers were not harmed
00:38and that its auction system saved advertisers more than $8 billion from 2021 through 2025.
00:44Amazon's longer-term bullish trend remains intact, with shares 6.6% above the 200-day average
00:52and the 50-day average still above the 200-day.
00:55Near-term momentum has weakened, however, with $258 serving as resistance and $226 as a key support level.
01:04Shares were down 1.8% at 25509 on Tuesday, according to Benzinga Pro Tuesday.
01:09For all things money, visit Benzinga.com.
