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The Supreme Court’s decision on Thursday to give states broader authority to collect taxes on e-commerce sales — even if the retailers have no presence in those jurisdictions — knocked the stock prices of many prominent online sellers.
Yet it had a relatively muted effect on the biggest one, Amazon.
Shortly after the 5-4 decision in the case, Quill Corporation v. North Dakota, was released, shares of online retailers fell. Here’s where they were trading on Thursday:
But Amazon suffered the least of all. E-commerce giant collects sales taxes for goods that it sells directly, but not for merchandise sold by third parties. Its shares were down less than a percentage point.
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