What Is Going on With Getty Images (GETY) Stock Today?

  • Getty Images (GETY) stock is falling even after renewing a contract with Amazon (AMZN).
  • That covers images used with Alexa and Fire TV software.
  • This should be a positive catalyst for the company’s shares.
GETY Stock - What Is Going on With Getty Images (GETY) Stock Today?

Source: shutterstock.com/360b

Getty Images (NYSE:GETY) stock is sliding on Wednesday even after renewing a multi-year contract with Amazon (NYSE:AMZN).

According to the company, this agreement will continue to have its content appear alongside Alexa products, as well as Fire TV software. Getty Images holds 495 million visual assets that cover sports, news, entertainment, archival, as well as creative images.

Peter Orlowsky, senior vice president of Strategic Development at Getty Images, said the following about the deal:

The renewal of this agreement between Getty Images and Amazon highlights the growing demand for high-quality imagery that is only available at Getty Images. We continue to license our premium collection of editorial, creative and archival content to Amazon, working closely with them to improve the visual experience of Alexa now and in the future.

Today’s News Isn’t Helping GETY Stock

While a renewed contract should be a positive catalyst for GETY stock, that’s not the case today. Instead, the news doesn’t seem to be exciting investors as trading volume remains lower than the company’s daily average. Only around 500,000 shares have traded as of this writing, as compared to the daily average of roughly 1 million shares.

GETY stock is down 7.1% as of Wednesday afternoon. However, the company’s stock is up 37.8% since the start of the year.

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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.


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