Amazon Shares On Track To Snap Losing Streak After Amazon Go Launch Announced

Amazon.com Inc. shares are up 2.6% in Monday trading, on track to snap a five-session losing streak, after the e-commerce giant announced the new Amazon Go app, coming in early 2017. Amazon shares have lost 5.1% over the past five days. Unveiled via video available on the Amazon Twitter page, details so far are few, but the video shows customers walking into a store, activating the app, and then shopping freely. The clip promises "no lines, no checkout," saying that technology including AI and machine learning has been "woven into the fabric" of the store so shoppers won't have to stop at a register to tally their purchase. Amazon gives a Seattle address at the end of the clip where the store seemingly will be located. Amazon stock is up 12.4% for the year so far while the S&P 500 index is up nearly 8% for the same period.