restructuring affecting expense
“The increase in sales and marketing costs in Q3 2025, compared to the comparable prior year period, is primarily due to severance costs and increased advertising expenses.”
AMZN 10-Q
Confirmed
Payment Technology
7 names are moving together; 71% are participating in the current session.
1 observed Confirmed episode
Co-movement
Observed member paths adjusted against SPY. Shading marks the latest observation window.
Members
| TICKER | Company | Sector | Today | Observed activity |
|---|---|---|---|---|
| WRBY | Warby Parker Inc. | Healthcare | -5.7% | Group member |
| BRCB | Black Rock Coffee Bar, Inc. | Consumer Cyclical | +0.6% | Group member |
| OPLN | OPENLANE, Inc. | Consumer Cyclical | -0.8% | 1/2 observed active sessions |
| SFIX | Stitch Fix, Inc. | Consumer Cyclical | +2.3% | Group member |
| AMZN | Amazon.com, Inc. | Consumer Cyclical | +0.8% | Group member |
| SEZL | Sezzle Inc. | Financial Services | -10.6% | Most structurally connected |
| QFIN | Qfin Holdings, Inc. | Financial Services | -3.0% | Group member |
Why we believe this
Cohort
7 namesParticipation
71% this sessionObserved history
10 daily buildsFiling coverage
6/7 memberscredit / rates affecting interest expense
“Net Interest Expense We incur interest expense on a continuous basis as a result of draws on our revolving line of credit to fund consumer notes receivable as well as our Delayed Settlement Incentive Program, whereby merchants may delay their payments owed by us in exchange for daily incentive payments.”
SEZL 10-K
credit / rates
“25 Table of Contents Our existing $225.0 million revolving credit facility is secured by our consumer notes receivable we choose to pledge and is subject to certain operating covenants.”
SEZL 10-K
This identity theme becomes less useful if activity narrows to one or two names instead of remaining broad across the cohort.
Connected, outside the group
GDDY
AMZNsupplier · Not moving with the group now
Filing receipt · GDDY / AMZN
“We continue to migrate many of our non-hosting products and internal systems to Amazon Web Services.”
AMZN · supplier
RGTI
AMZNcustomer · Not moving with the group now
Filing receipt · RGTI / AMZN
“The system will be installed on-premises at C - DAC’s Bengaluru center and is expected to be deployed in the second half of 2026.”
AMZN · customer
RIVN
AMZNcustomer · Not moving with the group now
Filing receipt · RIVN / AMZN
“Commercial Vehicles The Rivian Commercial Van platform underpins the EDV variant, designed and engineered by Rivian in collaboration with Amazon.com, Inc.”
AMZN · customer
HNST
AMZNcustomer · Not moving with the group now
Filing receipt · HNST / AMZN
“In 2025, our three largest retailers, Amazon, Target and Walmart accounted for approximately 39%, 28% and 8% of our total revenue, respectively.”
AMZN · customer
WMG
AMZNcustomer · Not moving with the group now
Filing receipt · WMG / AMZN
“In 2024, Amazon Music Unlimited increased the prices of both its individual and family subscription plans in the United States, Canada and the United Kingdom.”
AMZN · customer
History
2026-07-07 → 2026-07-092 observed active sessions · 25% of active names held across the episode