TiVo falls on report Amazon will be developing live TV recording device

TIVO, Inc. gave a way free TIVO (DVR) Digital Video Recorder, boxes to thousands of happy Comcast Cable customers, who also donated a toy or clothing for charity outside their corporate headquarters.

Kim Kulish | Corbis | Getty Images

TIVO, Inc. gave a way free TIVO (DVR) Digital Video Recorder, boxes to thousands of happy Comcast Cable customers, who also donated a toy or clothing for charity outside their corporate headquarters.

Shares of TiVo fell as much as 10 percent in afternoon trading Friday following a Bloomberg report of which Amazon will be eyeing a live TV recording device.

TiVo pared losses in addition to closed just 4 percent down at $12.20. The drop extends a challenging run for TiVo, which will be currently off 20 percent in 2018 in addition to 30 percent inside last 12 months.

Amazon will be known to scare investors in addition to send stocks tumbling with news of a planned entrance into a completely new industry. Earlier This kind of week, movie theater stocks dropped on a report of which Amazon will be considering a bid for Landmark Theaters.

Representatives for Amazon in addition to TiVo were not immediately available to comment.

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