Amazon Stock Drops After Trump Tweet

Amazon Cloud Cam Deals Flare Up

The company's market value plunged $53 billion Wednesday after Axios reported that Trump wants to impose further regulations on the company.

It's pretty clear Amazon has been on the president's mind for years, just not always in the same way.

So investors were ready to cash out at least some of those big gains when the news site Axios.com reported that Trump was "obsessed" with somehow further regulating Amazon's business model. Zevin Asset Management Limited Liability invested in 6,149 shares or 1.63% of the stock.

After a long runup over the past year, Amazon's stock has hit a rough patch, declining almost 10% over the past week to its current level of about $1,400 a share.

Still, White House Deputy Press Secretary Raj Shah shot down the notion that Trump's criticism was part of a personal grudge. The stock decreased 1.39% or $19.8463 during the last trading session, reaching $1411.5737.

Amazon founder and chairman Jeff Bezos also privately owns the Washington Post, which won a Pulitzer Prize previous year for its investigation of Trump's donations to charities.

According to several media reports, Trump's much aversion to the Amazon comes from the fact that its CEO Jeff Bezos also owns the Washington Post, whose coverage the President has lashed out frequently.

It's true that a growing number of retail chains have closed stores, scaled back operations or filed for bankruptcy reorganization in recent years, partly due to their inability to keep pace with consumers' shift toward more Internet shopping. Bank of America Merrill Lynch analyst Justin Post outlined the possibilities in his own note on Amazon stock.

Rival Korean leaders to meet April 27 in historic summit
The change in tactics could be an attempt to ease pressure from heavy sanctions and improve its economy. Dictator Kim Jong Un and South Korean president Moon Jae-In plan to meet at Border Village on April 27.

Lou Kerner, a technology investor who blogs about the sector, said Trump's attack on Amazon "is a very populist thing to do" but that any new measures imposed on Amazon may do little for consumers or small businesses. White House Press Secretary Sarah Huckabee Sanders said Wednesday that "we have no announcements and no specific policies or actions that we're now pushing forward or considering".

"I have stated my concerns with Amazon long before the Election", he said early Thursday.

In 2015, the president tweeted about the company five times-including one where he predicted Amazon would "crash" and "crumble like a paper bag" if the company "had to pay fair taxes". USPS declined to comment on Mr Trump's tweet. Sellers pay fees to sell their goods on Amazon, and the online retailer recently added advertising fees. "Towns, cities and states throughout the USA are being hurt - many jobs being lost!"

Amazon now collects sales taxes across the country in states that have a sales tax and where Amazon has a physical presence with distribution centers or other facilities, such as California. Olsavsky Brian T also sold $3.42 million worth of Amazon.com, Inc. Congress could pass legislation making online sales taxes more uniform.

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

It has also reached agreements with most USA states to pay sales taxes, after years of legal disputes.

Federal law requires that the U.S. Postal Service's package service must break even, meaning deliveries must generate enough revenue to cover the costs, and packages must contribute at least 5.5 percent of total institutional costs. "Should be charging MUCH MORE!" he tweeted.

Amazon declined to comment on the tweet.

Related news:

Hot News

isis-killer-beheading-video-story-top Time All-Star Staub dies at 73
Mar 30, 2018 - 00:40
Staub battled numerous health issues the last few years, most recently a blood infection that shut down of his kidneys in January. Rusty Staub speaks during his induction into the Canadian Baseball Hall of Fame in St.

isis-killer-beheading-video-story-top Easter egg hunt coming to Kalamazoo park Saturday
Mar 30, 2018 - 00:38
From Sunday, 31 March to Monday, 2 April Kolonade Retail Park will have a variety of fun-filled activities for the little ones. After gathering eggs, stay for arts and crafts, food trucks, photos with the Easter Bunny, bounce houses and face painting.

isis-killer-beheading-video-story-top Sarah Jessica Parker Doesn't Exactly Endorse Cynthia Nixon For Governor
Mar 30, 2018 - 00:33
Sarah Jessica Parker finally endorsed her former " Sex and the City " co-star Cynthia Nixon for NY governor. Parker and Davis have now explicitly endorsed Nixon, and even Cattrall seems to be doing so, too.

isis-killer-beheading-video-story-top PM welcomes Malala on first return to Pakistan since Taliban shooting
Mar 30, 2018 - 00:28
Victor of the Nobel Peace Prize in 2014, she has continued her campaigning while pursuing her studies at Oxford University. Many Pakistanis on Twitter were pleased that the campaigner had returned for the visit, despite ongoing security fears.

isis-killer-beheading-video-story-top Self-driving truck startup co-founder leaving Uber
Mar 30, 2018 - 00:22
Doug Ducey (R) and Uber reportedly kept the company's controversial self-driving auto tests a secret, according to The Guardian . Three weeks ago, it started a free robot-taxi service for those employees to commute to and from work.

isis-killer-beheading-video-story-top China Hold Talks On Brahmaputra For The First Time After Doklam
Mar 29, 2018 - 02:21
India and China were locked in a 73-day military stand-off at Doklam in the eastern section of their border past year . The statement is a major test of China's patience at a time when it is heading towards a trade war with the US.

isis-killer-beheading-video-story-top Google begins rolling out mobile-first indexing to more sites
Mar 29, 2018 - 02:17
They pay the company between $100,000 and $500,000 to run sponsored GIFs inside its search results, Bloomberg reported . To check whether a page is mobile-friendly, you can check out Google mobile-friendliness test here .

isis-killer-beheading-video-story-top $1M Mega Millions ticket sold at Quick Chek store
Mar 29, 2018 - 02:14
If no winning tickets are sold then the amount will keep increasing for every drawing, until there is a victor . The winning numbers Tuesday night were white balls 7, 25, 43, 56 , and 59, with the gold Mega Ball 13.

isis-killer-beheading-video-story-top Huawei Launches P20 Pro Smartphone with 40MP Leica Triple Camera System
Mar 29, 2018 - 02:14
Both phones feature a stunning design and powerful specs, while the P20 Pro includes an innovative triple lens camera system. Both the devices comes with 24MP selfie camera with artificial intelligence (AI) beautification and 3D portrait lighting.

isis-killer-beheading-video-story-top Riyadh, Softbank partner for US$200bn solar deal
Mar 29, 2018 - 02:09
Son predicts that this project is going to create up to 100,000 jobs in the Kingdom and save it $40 billion in power costs. To start $5 billion will be used as the initial investment, of which the Japan-based SoftBank fund will give $1 billion.

isis-killer-beheading-video-story-top Wednesday is your week's best… cooler heading into the Easter weekend
Mar 29, 2018 - 02:08
There is a chance for significant rain on Friday; however the models are trending further west with the heaviest rains. It's the warmest morning we've had all month and that will give us a leg up for the warmest afternoon in over a month.

isis-killer-beheading-video-story-top LAPD Considers Adea Shabani Disappearance as a Homicide
Mar 29, 2018 - 02:06
For now, police are combing Spotz's truck for clues, along with a rental auto he recently used in Colorado , Hayes said . An attorney for Spotz had told investigators that his client and Shabani had got into an argument on February 23.

isis-killer-beheading-video-story-top Huawei P20 Launch Stream & Live Blog
Mar 28, 2018 - 01:39
As mentioned above, the Huawei P20 Pro innovates in a number of ways - and another one of those innovations is with the camera. If you're after the Huawei P20 Pro, this starts at £ 79 upfront and £ 43 per month with 4GB data and AYCE minutes and texts.

isis-killer-beheading-video-story-top Mother of police officer killed in France terror attack speaks out
Mar 28, 2018 - 01:37
In this image provided by Newsflare/Tarbouriech Roseline, police attend an incident in Trebes, southern France, on March 23, 2018. The mother of the policeman who died in a terror attack in France has spoken of honouring her son and not hating his killer.

isis-killer-beheading-video-story-top Logitech's iPad Crayon and Case are something Apple should've made
Mar 28, 2018 - 01:36
It can go for 8 hours of use before needing to be recharged, which can be done with a regular Lightning cable. It is created to protect the iPad against bumps, scratches and drops from up to 4 feet high.