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Cyber Monday is Dark Day for Blue Nile, Amazon.com
Cyber Monday, the first shopping Monday after Thanksgiving is typically a bell weather sales day for e-commerce websites. Not so on today's Monday.
Blue Nile shares dropped today almost 13% to $20.82 per share on consumer fears and tightening credit and is down over 65% in price in the past year . In an effort to jump start sales, Blue Nile is discounting many of their listed jewelery items by up to 35% through the end of December.
Amazon.com was down over 5% and tech stocks were slammed down over 9% today.
Retailers are hunkering down for a grim Holiday shopping season.
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