Amazon Removes 4,000 Sellers For Price Gouging

Amazon has removed nearly 4,000 seller accounts in the U.S. for price gouging, making it clear that they have no tolerance for it.

They're now warning all of their sellers they're monitoring Amazon stores 24/7, and working with federal, state, and local law enforcement agencies, as well as lawmakers to hold price gougers accountable.

"We began taking these enforcement actions promptly upon discovering this kind of misconduct, and we've been partnering directly with law enforcement agencies to combat price gougers and hold them accountable," Amazon said in a blog post.

Nearly 1 in 6 of the products sold directly by Amazon had prices spike 50% higher than the 90-day average.