Current Events > Amazon sheds $52 billion in market value after report on Trump threat

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Scorsese2002
03/28/18 12:21:24 PM
#1:


http://www.businessinsider.com/r-amazon-sheds-52-billion-in-market-value-after-report-on-trump-threat-2018-3

(Reuters) - Amazon.com Inc's shares fell as much as 7 percent on Wednesday, wiping out about $52 billion from the company's market value, after a report that U.S. President Donald Trump wants to go after the U.S. tech giant.

Trump has talked about changing Amazon's tax treatment because he's worried about mom-and-pop retailers being put out of business, Axios reported earlier on Wednesday.

Amazon could not be immediately reached for comment.

"Capitol Hill wants Facebook's blood, but President Trump isn't interested. Instead, the tech behemoth Trump wants to go after is Amazon," the news website reported, citing five sources who have discussed the issue with him.

The report comes at a time when tech stocks are already under pressure after Facebook Inc acknowledged earlier this month that user data had been improperly harvested by a consultancy firm.

"With Facebook and regulatory worries the last thing nervous tech investors wanted to see was news that Trump is targeting Bezos and Amazon over the coming months as this remains a lingering cloud over the stock and heightens the risk profile in the eyes of the Street," GBH Insights analyst Daniel Ives said.

Trump had in the past criticized Amazon and its founder and Chief Executive Jeff Bezos, who is also the richest person in the world with a net worth of more than $100 billion, according to Forbes.

Bezos also owns The Washington Post, a newspaper Trump has repeatedly railed against in his criticisms of the news media.

"He's obsessed with Amazon," a source told Axios.

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FLUFFYGERM
03/28/18 12:22:18 PM
#2:


Amazon could not be immediately reached for comment.

lol'd

Maybe the $52 billion hit wiped out their social media management
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Turbam
03/28/18 12:23:02 PM
#3:


Fuck with Trump you gonna get bumped........down
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UnfairRepresent
03/28/18 12:23:40 PM
#4:


Drain the Amazon
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AreteWastrel
03/28/18 12:23:58 PM
#5:


Leave Amazon alone
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Bloodychess
03/28/18 12:24:45 PM
#6:


AreteWastrel posted...
Leave Amazon alone


No, please mess with this Monopoly time bomb
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Krojen
03/28/18 12:26:36 PM
#7:


He's been saying this for over a year. We'll see.
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ForestLogic
03/28/18 12:27:11 PM
#9:


I am absolutely NOT a Trump supporter, but I think I can actually get on board with this. The rate at which Amazon is slowly taking over the world is kinda creepy, and it's starting to make their original business as an online market suffer. I'm all for capitalism but Bezos def gives off real monopoly bad vibes...
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Shuto-uke
03/28/18 12:27:19 PM
#10:


Scorsese2002 posted...
http://www.businessinsider.com/r-amazon-sheds-52-billion-in-market-value-after-report-on-trump-threat-2018-3

(Reuters) - Amazon.com Inc's shares fell as much as 7 percent on Wednesday, wiping out about $52 billion from the company's market value, after a report that U.S. President Donald Trump wants to go after the U.S. tech giant.

Trump has talked about changing Amazon's tax treatment because he's worried about mom-and-pop retailers being put out of business, Axios reported earlier on Wednesday.

Amazon could not be immediately reached for comment.

"Capitol Hill wants Facebook's blood, but President Trump isn't interested. Instead, the tech behemoth Trump wants to go after is Amazon," the news website reported, citing five sources who have discussed the issue with him.

The report comes at a time when tech stocks are already under pressure after Facebook Inc acknowledged earlier this month that user data had been improperly harvested by a consultancy firm.

"With Facebook and regulatory worries the last thing nervous tech investors wanted to see was news that Trump is targeting Bezos and Amazon over the coming months as this remains a lingering cloud over the stock and heightens the risk profile in the eyes of the Street," GBH Insights analyst Daniel Ives said.

Trump had in the past criticized Amazon and its founder and Chief Executive Jeff Bezos, who is also the richest person in the world with a net worth of more than $100 billion, according to Forbes.

Bezos also owns The Washington Post, a newspaper Trump has repeatedly railed against in his criticisms of the news media.

"He's obsessed with Amazon," a source told Axios.


Yeah that is fake as fuck. Walmart and other mega retailers put mom & pap shops out of business. If anything amazon has empowered micro biz to sell online. But hey, let's keep wal mart afloat by kneecapping its enemy!
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Jiek_Fafn
03/28/18 12:28:06 PM
#11:


I think Amazon is finally the issue where America will take a united stand against Trump. Sorry about your plight, Mexican immigrants but that's not a concern until it fucks with my 2-day shipping.
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HypnoCoosh
03/28/18 12:28:54 PM
#12:


Amazon ain't going anywhere relax people.
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Krojen
03/28/18 12:48:32 PM
#13:


Shuto-uke posted...
Yeah that is fake as fuck. Walmart and other mega retailers put mom & pap shops out of business. If anything amazon has empowered micro biz to sell online. But hey, let's keep wal mart afloat by kneecapping its enemy!

This is definitely about his big corporate friends. I'm sure they're tired of their own company stock plummeting every time Amazon thinks about entering their sector. Walmart invested too little too late in its online presence so kneecapping Amazon is their only hope.
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Darkman124
03/28/18 12:52:28 PM
#14:


agreed 100% with krojen, amazon is consistently a corporate-sector disruptor, not a mom-and-pop disruptor

also a 7% decline is laughable to any amazon investor who has been around for more than a year

i remember back in 2010 when its volatility was off the charts

if it retests the feb 8 low i'm buying (i guess 1391 around noon today kinda counts?)

ill write in a 1350 limit order for 100 shares and we'll see if it ever gets triggered. prob no.
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__aCEr__
03/28/18 12:54:59 PM
#15:


A lot of mom-and-pops just sell through Amazon.
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Steve Nick
03/28/18 12:56:37 PM
#16:


Krojen posted...
Shuto-uke posted...
Yeah that is fake as fuck. Walmart and other mega retailers put mom & pap shops out of business. If anything amazon has empowered micro biz to sell online. But hey, let's keep wal mart afloat by kneecapping its enemy!

This is definitely about his big corporate friends. I'm sure they're tired of their own company stock plummeting every time Amazon thinks about entering their sector. Walmart invested too little too late in its online presence so kneecapping Amazon is their only hope.


Wal-Mart has invested pretty heavily in giving me food, medicine, and other supplies I need on a daily basis, though. Amazon doesn't really do any of that effectively.
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Shuto-uke
03/28/18 12:57:00 PM
#17:


__aCEr__ posted...
A lot of mom-and-pops just sell through Amazon.


Exactly so. He doesn't give a fuck about small biz
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Darkman124
03/28/18 12:58:01 PM
#18:


Steve Nick posted...


Wal-Mart has invested pretty heavily in giving me food, medicine, and other supplies I need on a daily basis, though. Amazon doesn't really do any of that effectively.


amazon has a food delivery service

amazon has an OTC medicine delivery service

amazon certainly has a 'supplies' delivery service
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SpiralDrift
03/28/18 12:58:09 PM
#19:


Take their asses down hard and fast.
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Shuto-uke
03/28/18 12:58:53 PM
#20:


Steve Nick posted...
Wal-Mart has invested pretty heavily in giving me food, medicine, and other supplies I need on a daily basis, though. Amazon doesn't really do any of that effectively.
This is my signature.


you really think walmart are good guys and/or that they make a positive impact in the community?
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hockeybub89
03/28/18 1:08:32 PM
#21:


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thronedfire2
03/29/18 10:32:09 AM
#22:


Trump family got some insider trading with Amazon going
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eston
03/29/18 10:34:57 AM
#23:


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Giant_Aspirin
03/29/18 10:34:58 AM
#24:


interesting that pro-capitalism people post ITT and don't comment on what's actually happening. i wonder why.

the President of the United States is butthurt over Bezo's newspaper hurting his feelings and he's talking about initiating taxes against Bezos company. he is literally talking about using the federal government to enforce a personal vendetta because he can't handle his feelings being hurt.

how can any Trump supporter defend this?

since he likes to summon people to argue

@FLUFFYGERM
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#25
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Caution999
03/29/18 10:40:55 AM
#26:


Time to buy Amazon stocks.

Am I right @Darkman124
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Darkman124
03/29/18 10:41:28 AM
#27:


i have a 100 share limit buy order at 1350 fwiw good for the next month, caution.

it did not trigger today

but it might. almost did around 10AM.
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Giant_Aspirin
03/29/18 10:41:57 AM
#28:


Bullet_Wing posted...
Giant_Aspirin posted...
interesting that pro-capitalism people post ITT and don't comment on what's actually happening. i wonder why.

the President of the United States is butthurt over Bezo's newspaper hurting his feelings and he's talking about initiating taxes against Bezos company. he is literally talking about using the federal government to enforce a personal vendetta because he can't handle his feelings being hurt.

how can any Trump supporter defend this?

since he likes to summon people to argue

FLUFFYGERM

I thought Proudclad has said he's not a Trump supporter?


shrug. he seems to ravenously defend all of Trump's economic policy so far. he was the first post ITT and he didn't condemn the big bad federal government talking about using its power to enact a personal vendetta, which I found awfully surprising. i would have guessed that he would be up in arms over that.
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#29
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FLUFFYGERM
03/29/18 11:33:59 AM
#30:


dont you guys have jobs
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DoGCyN
03/29/18 11:46:51 AM
#31:


FLUFFYGERM posted...
dont you guys have jobs

Yeah but we just finished 2 shows so we're sitting here until the next show comes in.
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Darkman124
03/29/18 12:02:51 PM
#32:


FLUFFYGERM posted...
dont you guys have jobs


currently finishing run of a genetic algorithm and way ahead on my post-flight reports

this desktop has 28 cores so i can dedicate 24 to the simulation and the last 4 to entertainment
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Antifar
03/29/18 12:05:30 PM
#33:


An anti-Amazon message is probably a winning one for Trump
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Questionmarktarius
03/29/18 12:25:52 PM
#34:


Antifar posted...
An anti-Amazon message is probably a winning one for Trump

Too bad it's the wrong message, or at least the message this thread and the article seem to believe.
Mom & Pop stores live on locality. If anything, Amazon is giving them wider reach, beyond the neighborhood.

The real issue is that Amazon (and Netflix) are effectively having their shipping subsidized by taxpayers, via USPS.
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kingdrake2
03/29/18 12:32:10 PM
#35:


amazon's my last bastion to order **** especially used games.
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TomNook20
03/29/18 12:34:53 PM
#36:


Antifar posted...
An anti-Amazon message is probably a winning one for Trump


Nope. I own a shitton of amazon stock and I'm not voting for donnie again if he fucks them up.
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kingdrake2
03/29/18 1:07:32 PM
#37:


TomNook20 posted...
Antifar posted...
An anti-Amazon message is probably a winning one for Trump


Nope. I own a shitton of amazon stock and I'm not voting for donnie again if he fucks them up.


a threat won't do nothing, gotta not vote for him next election to put your point across. can even vote for an independent if you want as long as the vote isn't for him.
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#38
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Giant_Aspirin
03/29/18 3:44:08 PM
#39:


lol @ him failing to address the question
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TheCyborgNinja
03/29/18 4:16:04 PM
#40:


FLUFFYGERM posted...
Amazon could not be immediately reached for comment.

lol'd

Maybe the $52 billion hit wiped out their social media management

Lol What is there even to say?! "We love a massive devaluation of our stock!"
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Questionmarktarius
03/30/18 10:31:01 AM
#41:


Questionmarktarius posted...
The real issue is that Amazon (and Netflix) are effectively having their shipping subsidized by taxpayers, via USPS.

or... apparently not?

http://fortune.com/2018/03/29/donald-trump-post-office-amazon-losing-money/?xid=gn_editorspicks&google_editors_picks=true
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Giant_Aspirin
03/30/18 10:33:46 AM
#42:


Questionmarktarius posted...
Questionmarktarius posted...
The real issue is that Amazon (and Netflix) are effectively having their shipping subsidized by taxpayers, via USPS.

or... apparently not?

http://fortune.com/2018/03/29/donald-trump-post-office-amazon-losing-money/?xid=gn_editorspicks&google_editors_picks=true


you mean to tell me that Donald J Trump, the President of the United States, publicly said something that was just patently false and has no basis in reality at all? color me surprised

which begs the question: is he woefully misinformed or is he just lying through his teeth? i don't know which is worse tbqh
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Solar_Crimson
03/30/18 10:36:07 AM
#43:


Amazon's a problem with monopolizing and shutting down local shops, but Walmart isn't?
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Questionmarktarius
03/30/18 10:37:57 AM
#44:


Solar_Crimson posted...
Amazon's a problem with monopolizing and shutting down local shops, but Walmart isn't?

Walmart became the local shop.
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#45
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Questionmarktarius
03/30/18 11:54:13 AM
#46:


Bullet_Wing posted...
Also, I'm a little disappointed in Proudclad. Aside from that implied insult, he never came back to explain his position on why government meddling in private business is okay in this case.

Trump is trying hard to be (or at least appear to be) a Teddy Roosevelt populist. Trust-busting is something populists do.
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#47
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Questionmarktarius
03/30/18 12:31:57 PM
#48:


Bullet_Wing posted...
Questionmarktarius posted...
Bullet_Wing posted...
Also, I'm a little disappointed in Proudclad. Aside from that implied insult, he never came back to explain his position on why government meddling in private business is okay in this case.

Trump is trying hard to be (or at least appear to be) a Teddy Roosevelt populist. Trust-busting is something populists do.

You know as well as any of us that Trump only has Amazon in his crosshairs because of Bezos. This is personal, not for the good of the country.

So "appear to be" then.
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NINExATExSEVEN
03/30/18 12:40:56 PM
#49:


I'm cool with this. Monopolies should never exist.
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Questionmarktarius
03/30/18 12:42:01 PM
#50:


NINExATExSEVEN posted...
I'm cool with this. Monopolies should never exist.

Amazon is not a monopoly. Not yet.
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NINExATExSEVEN
03/30/18 12:57:32 PM
#51:


Questionmarktarius posted...
NINExATExSEVEN posted...
I'm cool with this. Monopolies should never exist.

Amazon is not a monopoly. Not yet.


Let's keep it that way.
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