Amazon.Com, Inc. AMZN shares are moving lower on Friday after Third Point reported that it decreased its stake in the company. Here’s what you need to know.
What To Know: In the 13F filing with the Securities and Exchange Commission, Third Points disclosed that it decreased its stake in Amazon by 27% from 5,100,000 shares to 3,700,000 shares.
Aside from Amazon, Third Point disclosed several other notable cuts to its holdings in different companies. It reported that it reduced its stake in Microsoft Corporation MSFT and Meta Platforms, Inc. META by 45% and 50% respectively.
Specifically, it now owns 870,000 shares in Microsoft where it previously held 1,580,000 shares. In Meta, Third Point cut its shares from 1,100,000 to 545,000.
How To Buy Amazon Stock
Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.
For example, in Amazon.com’s case, it is in the Consumer Discretionary sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
See Also: Why Super Micro’s Future May Hinge On Nvidia Earnings, Nasdaq Deadline (UPDATED)
AMZN Price Action: At the time of publication, Amazon stock is trading 4.27% lower at $202.49, according to data from Benzinga Pro.
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