. Amazon Up 1% as It Shrugs Off Twitch Data Hack

Amazon Up 1% as It Shrugs Off Twitch Data Hack

07 Oct 2021

Amazon (NASDAQ:AMZN) Inc is trading up 1.27% at 3262.01       

Amazon (NASDAQ:AMZN) traded 1.1% higher in Thursday’s premarket as it attempted to allay fears over the data hack at Twitch Interactive, a company it acquired in 2014 for about $970 million.

Twitch is an American video live streaming service focusing on video game livestreaming and broadcasts of e-sports competitions.

In a post on its website Wednesday, Twitch said no login credentials or credit card details were compromised. The platform said it doesn’t store full credit card numbers in any case.

Information from the data breach was leaked on the online chat forum 4chan. The user who allegedly posted Twitch data said they did it to hurt its business. The person claimed to have access to the Twitch source code, internal security tools and creator payouts.

Twitch boasts an average of more than 2.5 million viewers at any given moment. More than 7 million unique creators stream live video on the platform and over 30 million users visit the site daily, it says.

According to an August 4 Accenture (NYSE:ACN) report, global cyber intrusion activity more than doubled in first half of 2021.

On technical fronts Amazon (NASDAQ:AMZN) RSI stood at 39.52 and currently stock is trading below all MA. So, SELL position can be taken with following target and stoploss:

TRADE SIGNAL – : Amazon (NASDAQ:AMZN) – SELL : 3262.01, TARGET: 3185.12, STOP LOSS : 3312.31