Why Amazon Is Falling Today

Shares of Amazon (NASDAQ: AMZN) are trading 2.2% lower at 11:33 a.m. ET on Wednesday after rival Walmart (NYSE: WMT) announced it had signed a partnership with Paramount Global (NASDAQ: PARA) to offer the movie studio's streaming service to its Walmart+ member loyalty program. While the deal isn't about to prove particularly competitive to Amazon Prime Video since few sign up for Amazon's own membership program to simply get streaming video, Prime itself is coming under greater scrutiny. With Walmart+ priced some $50 less than Prime, it could be seen by some as a better value now.