Barnes & Noble (BKS) Shares Being Sold Following New Kindle Pricing, Unveiling of Fire (AMZN)
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Investors are hitting the sell button on shares of Barnes & Noble (NYSE: BKS) Wednesday following the unveiling of a new pricing scheme for the Amazon.com (Nasdaq: AMZN) Kindle.
Barnes & Noble shares last traded at $12.12, down 8.3 percent from Tuesday's closing price. The stock had traded down as much as 13.3 percent earlier.
Amazon will now offer the standard Kindle at just $79, the wifi-only Touch at $99 and the 3G Touch at $149.
In addition (and certainly stealing the show), Amazon.com's Jeff Bezos unveiled the company's highly-anticipated tablet, named "Fire." The device, boasting a 7" screen and dual core processors, will be shipped on November 15th.
Barnes & Noble shares last traded at $12.12, down 8.3 percent from Tuesday's closing price. The stock had traded down as much as 13.3 percent earlier.
Amazon will now offer the standard Kindle at just $79, the wifi-only Touch at $99 and the 3G Touch at $149.
In addition (and certainly stealing the show), Amazon.com's Jeff Bezos unveiled the company's highly-anticipated tablet, named "Fire." The device, boasting a 7" screen and dual core processors, will be shipped on November 15th.
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