An analyst at Capital Alpha Partners says there has been a shift in investor sentiment regarding antitrust enforcement.
The Federal Trade Commission is expected to file an antitrust complaint against Amazon.com, but one research analyst says the stock won’t be much affected because investors don’t seem to care.
Earlier this month, The Wall Street Journal reported that representatives of Amazon were set to meet with FTC officials in a so-called last-rites meeting. That is often one of the last steps before a lawsuit or a settlement is filed, suggesting an antitrust complaint may be looming. The FTC and Amazon both declined to comment.
Investors seem unconcerned by the idea of a lawsuit, according to Capital Alpha Partners analyst Robert Kaminski.he wrote in a Sunday report. “Thanks to a string of government losses, including the high-profile Microsoft-Activision case, we don’t think investors are afraid of the feds anymore.”decision by Lina Khan,” who heads the regulator, he continued. “The long, multi-year timeline will also contribute to apathy in the near term. The court process will outlast Lina Khan’s reign at the FTC.
This isn’t the online retailer and cloud-computing company’s first tangle with the regulator. In June, the FTC sued Amazon, alleging the company tricked some customers into signing up for its Prime membership program and then made it difficult to cancel accounts. Khan detailed her concerns about Amazon in a 2017 Yale Law Review article. “There is growing public awareness that Amazon has established itself as an essential part of the internet economy, and a gnawing sense that its dominance — its sheer scale and breadth — may pose hazards,” Khan wrote at the time.The company’s second-quarter sales and earnings were better than expected. Management’s forecasts for the third quarter were more upbeat than Wall Street had anticipated.
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