Amazon.com Inc DOWN 1.17% AT 3232.28
Amazon.com Inc said on Tuesday it is extending until further notice a moratorium it imposed last year on police use of its facial recognition software.
The company had halted the practice for one year starting in June 2020. Its announcement came at the height of protests across the United States against police brutality toward people of color, sparked by the killing of George Floyd, a Black man, during an arrest in Minnesota.
Civil liberties advocates have long warned that inaccurate face matches by law enforcement could lead to unjust arrests, as well as to a loss of privacy and chilled freedom of expression.
Amazon (NASDAQ:AMZN)’s extension, which Reuters was first to report, underscores how facial recognition remains a sensitive issue for big companies. The world’s largest online retailer did not comment on the reason for its decision.
Last year, it said it hoped Congress would put in place rules to ensure ethical use of the technology, though no such law has materialized.
Amazon also faced calls this month from activists who wanted its software ban to be permanent.
On technical fronts Amazon.com Inc RSI stood at 45.41 and currently stock is trading below all Moving Average. So, SELL position can be taken with following target and stoploss:
TRADE SIGNAL – : Amazon.com Inc – SELL: 3229.01, TARGET: 3214.44, STOP LOSS : 3246.64