4 ms·

Donald Trump wipes $5.7bn off the value of Amazon with single tweet

10 points by elmar 9y ago

furkansahin 9y ago
I do not really want to upvote this.
flipgimble 9y ago
Is there a parallel here to what Putin has done to Russian oligarch Mikhail Khodorkovsky (https://en.wikipedia.org/wiki/Mikhail_Khodorkovsky https://en.wikipedia.org/wiki/Mikhail_Khodorkovsky) ? For Trump, Bezos represents a powerful potential rich adversary and owner of Washington Post.
- trapperkeeper74 9y ago
  I love Bezos and Amazon. Except WaPo isn't a becon of freedom or journalism, it's a lying PoS rag Jimmy Dore has called out numerous times.
api 9y ago
Couldn't Trump's Twitter antics allow a tremendous amount of profiteering through insider trading, and aren't Congress and the President basically immune from insider trading laws?
- iAm25626 9y ago
  Planet Money(POD cast/NPR) have done it. I don't believe they made any money/trade just yet. botus: Bot of the U.S.
MrZongle2 9y ago
The tweet in question: https://twitter.com/realDonaldTrump/status/897763049226084352 https://twitter.com/realDonaldTrump/status/89776304922608435... Quoting: "Amazon is doing great damage to tax paying retailers. Towns, cities and states throughout the U.S. are being hurt - many jobs being lost!" Would there be any merit to this claim if it were said by anybody else?
- RightMillennial 9y ago
  An unfair advantage that Amazon and many other online retailers have is they either do not collect and pay sales tax at all, or they only selectively do it (e.g., only in states where they have a physical presence such as a warehouse and can't get away with it).
  - tocs2 9y ago
    On the other hand the only way to make money at Walmart is to work there. Amazon lets people set up shop or use some pretty serious computing power to set up website or on-line stores or use the servers for their "big data" problems.
tocs2 9y ago
The $5.7bn is only about 1~1.5% of market cap for Amazon and about 0.5% of the stock price. I would not be surprised if Pres. Trumps tweet had some effect but AMZN is coming of its all time high of a little over $1000 and has been dropping for a few days.

10 points by elmar 9y ago

I do not really want to upvote this.

Is there a parallel here to what Putin has done to Russian oligarch Mikhail Khodorkovsky (https://en.wikipedia.org/wiki/Mikhail_Khodorkovsky https://en.wikipedia.org/wiki/Mikhail_Khodorkovsky) ? For Trump, Bezos represents a powerful potential rich adversary and owner of Washington Post.

trapperkeeper74 9y ago
I love Bezos and Amazon. Except WaPo isn't a becon of freedom or journalism, it's a lying PoS rag Jimmy Dore has called out numerous times.

api 9y ago

Couldn't Trump's Twitter antics allow a tremendous amount of profiteering through insider trading, and aren't Congress and the President basically immune from insider trading laws?

iAm25626 9y ago
Planet Money(POD cast/NPR) have done it. I don't believe they made any money/trade just yet. botus: Bot of the U.S.

MrZongle2 9y ago

The tweet in question: https://twitter.com/realDonaldTrump/status/897763049226084352 https://twitter.com/realDonaldTrump/status/89776304922608435... Quoting: "Amazon is doing great damage to tax paying retailers. Towns, cities and states throughout the U.S. are being hurt - many jobs being lost!" Would there be any merit to this claim if it were said by anybody else?

RightMillennial 9y ago
An unfair advantage that Amazon and many other online retailers have is they either do not collect and pay sales tax at all, or they only selectively do it (e.g., only in states where they have a physical presence such as a warehouse and can't get away with it).
- tocs2 9y ago
  On the other hand the only way to make money at Walmart is to work there. Amazon lets people set up shop or use some pretty serious computing power to set up website or on-line stores or use the servers for their "big data" problems.

tocs2 9y ago

The $5.7bn is only about 1~1.5% of market cap for Amazon and about 0.5% of the stock price. I would not be surprised if Pres. Trumps tweet had some effect but AMZN is coming of its all time high of a little over $1000 and has been dropping for a few days.