Medical supply stocks were the latest to get 'Amazon'ed' (AMZN) as reports that the e-commerce giant was preparing deeper moves into their business sent shares tumbling on Tuesday.
After the Wall Street Journal reported that Amazon was preparing to focus its efforts on supplying supplies to hospitals and outpatient clinics, shares of McKesson (MCK) , Henry Schein, Inc. (HSIC) , Cardinal Health (CAH) and Owens & Minor (OMI) all fell significant amounts. Amazon shares, meanwhile, rose another 2% to 1,414.51 on Tuesday, taking its year-to-date gains to 21%.
And before that, there have been numerous other instances of stocks crashing on similar news. They surely won't be the last as Amazon continues its bold moves into almost every sector of the economy.