Amazon (AMZN) investors closed off the week with the stock closing -5.18% the last 5 days, which means it sits at +13.74% YTD.
Here's this weeks news on Amazon - let's go through it together.
LEGEND: Positive News | Neutral News | Negative News
Amazon's Project Kuiper has got the green light clearance from the FCC.
The goal of this project is to bring high speed internet to customers around the world (think - Starlink).
Project Kuiper is Amazon's satellite internet project. SpaceX had an ongoing regulatory fight with them claiming that Amazon didn't provide sufficient details to ensure how their satellites would play nice with existing satellites in space.
The FCC has decided that this claim isn't valid, and Amazon can go ahead with their project.
This means Amazon now has authorization to deploy 3,236 satellites around Earth for this mission.
Amazon has hired Jeffries Strategies to lobby as they continue their ongoing battles with the government.
Topics like anticompetitive practices, data projection, privacy, etc. is what the lobbying will focus on. This adds Amazon to the list (including Google and Meta) who Jeffries is representing as well.
As these Big Tech companies get bigger, the government eye on them gets bigger as well, and having a company like this to help is crucial.
| RATING | PRICE TARGET | FIRM |
| Buy | $192 | Tigress Financial |
We look forward to spending a few minutes with you next Sunday for some new Amazon news!
Disclosure: I am a Amazon.com (AMZN) shareholder at the time of publishing.