Amazon Sinks After Trump Warning And Anti-Bezos Ad

Amazon shares sank some 4% already yesterday and with a full page Anti-Bezos ad in certain US tabloids today as well as a fresh President Trump tweet warning against the online supermarket, the stock might drop further today.

The world’s largest online retailer lost some $30 billion of its value yesterday after it was reported that the White House Administration wants to rein in the growing power of the Jeff Bezos company and prefers companies like Macy’s and Walmart to grow to level the playing field.

The feud between President Donald Trump and Amazon CEO Jeff Bezos has been going on for many years, with Mr Trump repeatedly referring to the preferential tax treatment Amazon got from previous White House administrations during his presidential campaign.

<blockquote class="twitter-tweet" data-lang="en"><p lang="en" dir="ltr">I have stated my concerns with Amazon long before the Election. Unlike others, they pay little or no taxes to state &amp; local governments, use our Postal System as their Delivery Boy (causing tremendous loss to the U.S.), and are putting many thousands of retailers out of business!</p>&mdash; Donald J. Trump (@realDonaldTrump) <a href="https://twitter.com/realDonaldTrump/status/979326715272065024?ref_src=twsrc%5Etfw">March 29, 2018</a></blockquote>

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When asked about yesterday’s news report, White House spokesman Ms Sarah Sanders said that: “The president has said many times before he’s always looking to create a level playing field for all businesses and this is no different.”

“He’s always going to look at different ways, but there aren’t any specific policies on the table at this time.”

The Washington Post, owned by Mr Bezos is regarded by President Trump as a mouthpiece for Amazon’s business interest and he therefore refers to it as #AmazonWashingtonPost on Twitter.

Furthermore, a full-page advertisement appeared in various US tabloid newspapers today warning US President Donald Trump that the Department of Defense's would soon award a contract to Mr Bezos’ group.

<blockquote class="twitter-tweet" data-lang="en"><p lang="en" dir="ltr">Full page ad in the New York Post. Bezos has smart enemies. <a href="https://t.co/eilLlnG3Bh">pic.twitter.com/eilLlnG3Bh</a></p>&mdash; Arthur Schwartz (@ArthurSchwartz) <a href="https://twitter.com/ArthurSchwartz/status/978719163459035136?ref_src=twsrc%5Etfw">March 27, 2018</a></blockquote>

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The ad, placed by a non-profit called Less Government warns, "Your Defense Department is set to award a no-bid, ten-year contract for all its IT infrastructure to Administration-enemy Jeff Bezos' Amazon."

Source:

https://twitter.com/realDonaldTrump/status/979326715272065024