Market Overview

The Ongoing Saga Between Amazon, Bezos And Trump

The Ongoing Saga Between Amazon, Bezos And Trump

President Donald Trump proved he’s still got the magic touch. With fewer than 140 characters, Trump pushed, Inc. (NASDAQ: AMZN)'s stock lower Wednesday in pre-market trading.

“The #AmazonWashingtonPost, sometimes referred to as the guardian of Amazon not paying internet taxes (which they should) is FAKE NEWS!” he tweeted.

The stock immediately plunged about $8 per share before recovering by the market open.

It’s not the first time Trump has targeted Amazon for its relationship with The Washington Post. In May 2016, he accused Amazon CEO and Founder Jeff Bezos, also owner of The Post, of anti-trust violations and tax conspiracy.

“[Amazon] is getting away with murder tax-wise,” he told Fox New’s Sean Hannity. “He’s using The Washington Post for power so that the politicians in Washington don’t tax Amazon like they should be taxed.” Prior to that, the pair sparred on Twitter Inc (NYSE: TWTR) over the matter.

Shares closed down nearly $5 that day and entertained an intraday range of $15.

Amazon isn't the first stock proven vulnerable to Trump’s flightly fingers. Since his entry into politics, Trump has used his personal Twitter account to convey sentiment on various American institutions, such as The New York Times Co (NYSE: NYT), Boeing Co (NYSE: BA), Lockheed Martin Corporation (NYSE: LMT), Nordstrom, Inc. (NYSE: JWN) and General Motors Company (NYSE: GM).

Related Links:

Days After Nordstrom Cut Ties With Ivanka, President Trump Attacks Retailer

I Read The Tweets Today, Oh Boy: A WEek In The 140-Character Life Of Donald Trump

Posted-In: Donald Trump Jeff Bezos President Donald Trump The Washington PostNews Politics Tech General Best of Benzinga


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