Amazon's stock dropped, and Wells F's analyst lowered the investment rating.

October 7, 2024 23:03 JST (excerpt).

On the 7th, in the morning US stock market, Amazon.com's stock price temporarily fell by 2.9%. The unusual investment downgrade by analysts was viewed as a negative factor.
Wells Fargo's analyst, Ken Gaurelsky, downgraded Amazon's investment rating from 'Overweight' to 'Equal Weight'. Among the analysts tracked by Bloomberg, he became one of the few analysts who did not recommend buying Amazon's stock. He also lowered the target stock price from $225 to $183.