CVS (CVS), Related Stocks Decline as Amazon (AMZN) Said to Receive Wholesale Pharmacy Licenses in at Least 12 States
(Updated - October 26, 2017 3:08 PM EDT)
Amazon (NASDAQ: AMZN) strikes again.
According to a report from the St. Louis Post-Dispatch, the tech giant gained approval to become a wholesale distributor from at least 12 states, including Nevada, Arizona, North Dakota, Louisiana, Alabama, New Jersey, Michigan, Connecticut, Idaho, New Hampshire, Oregon and Tennessee.
The report cites regulatory filings.
Rumors about Amazon's interest in the space have circulated for months, but investors saw little incentive to fight the tape following the headlines, especially ahead of earnings from Amazon after the bell, and related stocks declined.
Stocks impacted by the headline included: