Wednesday, 19 June 2019
Latest news
Main » Amazon Stock Drops After Trump Tweet

Amazon Stock Drops After Trump Tweet

05 April 2018

Shortly after the write-up went live yesterday, shares in the company fell by as much as five per cent - representing a sum of $30 billion sliced of the company's market capitalisation.

Trump has gone after Amazon and its billionaire owner Jeff Bezos plenty of times in the past. He has repeatedly tweeted how much he dislikes the company.

"Facebook's regulatory issues have put regulatory risk in the spotlight, and the 4.4% decline in Amazon's stock has raised questions on potential government actions".

This is not the first time Amazon has been said to be talking to banks about establishing some sort of banking product of its own. Amazon does not hold a stake in the Washington Post.

USA media report that Trump's criticism of Amazon and Bezos may have stemmed from his misunderstanding of facts and his envy.

Amazon is known to collect and remit taxes in every required jurisdiction.

Years ago, when Amazon had few warehouses, it was able to get a competitive advantage by not charging sales tax.

"I have stated my concerns with Amazon long before the Election", Trump wrote in a single tweet with liberal capitalization.

Over the summer, Trump tweeted that the company was doing "great damage" to other retailers and was hurting towns and cities all across the country., Inc. (NASDAQ:AMZN) announced that the company is considering rolling out a new type of checking accounts aimed at teens.

The U.S. General Accounting Office said last November it estimated that state and local governments could have gained up to $13 billion in 2017 "if states were given authority to require sales tax collection from all remote sellers".

Below is a look at some of Trump's other tweets about Amazon and how the stock has behaved in their wake.

Because Amazon ships so many packages though the post office, it pays a lower rate than most customers. In 2006, Congress mandated that the postal service prepay benefits, a special requirement other agencies do not face.

Amazon also has a special agreement with the Postal Service to deliver packages on Sundays.

CNBC has the details on the incoming from the president that Amazon is dealing with.

The postal service has lost money for 11 straight years, mostly because of pension and health care costs.

The Postal Service is losing money.

Strong currents are pushing traditional stores to the brink.

Amazon has already waded into the financial service waters with Amazon Cash, which lets shoppers add physical cash to their Amazon account by visiting brick-and-mortar stores.

Amazon Stock Drops After Trump Tweet