Market News

Walter Bloomberg Tweets About FDA Warning to Amazon

Walter Bloomberg, an entrepreneur and influencer on microblogging site Twitter (TWTR), recently tweeted that the U.S. Food and Drug Administration (FDA) has issued warning letters to three companies for “Selling Unapproved New Drugs for Mole and Skin Tag Removal.”

Surprisingly, eCommerce behemoth (AMZN) is one of the three companies to have received a warning for selling over-the-counter non-FDA-approved mole and skin tag removal products. The sale of such drugs violates the Federal Food, Drug, and Cosmetic Act (FD&C Act). The other two companies mentioned in the letter are both health and beauty product companies, Ariella Naturals and Justified Laboratories.

The FDA stated in its warning letter that “There are no FDA-approved over-the-counter drug products for the removal of moles and skin tags.” The FDA further noted that moles should be checked by healthcare professionals as self-diagnosis and treatment could result in a delay in cancer detection and treatment.

To Amazon, the warning letter stated that “The introduction or delivery for introduction of these products into interstate commerce without an approved application is an additional violation of the FD&C Act.” Amazon sells tons of products through its eCommerce portal, including unapproved mole and skin tag removal drugs.

The FDA has given companies 15 days to respond and provide documentation of the steps they have taken to stop the sale of such products. Failure to do so would result in stricter actions.

Is Amazon a Safe Buy?

On TipRanks, AMZN stock commands a Strong Buy consensus rating based on 39 whopping Buys against one Hold. The average price target of $176.04 implies 27.7% upside potential to current levels. The company is the world’s largest e-commerce platform and commands a solid moat. With the majority of analysts having a strong conviction on the stock, it is surely a safe company to invest in.


Tired of arriving late to the Big Returns Party?​
Most investors don’t have major gainers like TSLA or NVDA on their radar from the start.
The profusion of opinions on social media and financial blogs makes it impossible to distinguish between real growth potential and pure hype.
​​For the past decade, we have developed and perfected technology designed to help private investors, just like you, find the best opportunities, with the greatest upside potential, in any financial climate.​
Learn More