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June 11, 1997updated 05 Sep 2016 12:48pm

AMAZON.COM SHARES SLUMP AFTER NOVELTY WEARS OFF

By CBR Staff Writer

According to the Financial Times, online bookseller Amazon.com Inc’s shares have slumped after initial success. Amazon, the first online retailer to go public and now in a legal battle with US bookstore Barnes & Noble Inc (CI No 3,162), saw its shares rise dramatically (CI No 3,165) and then slump as the novelty wore off. The FT says shares fell below the offer price within a week of trading and partly blames investors looking to make a fast buck.

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