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Trump Slams Amazon for 'Putting Many Thousands of Retailers Out of Business'

30 Marcha 2018, 10:31 | Crisanna Felipe

President Trump admits plans to target Amazon and protect bricks and mortar stores

Amazon.com, Inc. - AMZN - Stock Price Today - Zacks

Bezos is also the owner of the Washington Post, a frequent target of Trump over its news coverage.

Axios' report yesterday alleging Trump was "obsessed" with Amazon led to enough concern about regulatory risk to spur a 4.4 percent decline on Wednesday.

His online barrage came the morning after a report by Axios said he was ready to "go after Amazon".

In case you weren't already aware or forgot, President Donald Trump really does not like Amazon. Truepoint Inc sold 572,667 shares as Amazon Com Inc (AMZN)'s stock rose 28.13%.

Analysts at Stifel said the president's tweets on the topics does not seem "detrimental to Amazon".

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". Another trade for 2,333 shares valued at $3.42M was sold by Olsavsky Brian T. $18.50M worth of stock was sold by Blackburn Jeffrey M on Thursday, February 15. Trump wrote on Twitter.

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. After $2.16 actual EPS reported by Amazon.com, Inc. for the previous quarter, Wall Street now forecasts -44.91% negative EPS growth.

White House Press Secretary Sarah Huckabee Sanders spoke about Trump's plans of leveling the "playing field" on Wednesday.

Since then, Trump has tweeted numerous times about Amazon, The Washington Post and Bezos. "(Bezos is) using the Washington Post for power", Trump said in a May 2016 interview with conservative talk show host Sean Hannity.

Then on August 16 he tweeted: "Amazon is doing great damage to tax paying retailers". However, analysts have been quick to try to calm investor fears for Amazon stock by saying there's little the US government could really do to cause problems for the company.

Amazon gained a reputation in its early years of paying little in taxes, in part because its retail operations lost money.

"I have stated my concerns with Amazon long before the Election".

The issue might be resolved elsewhere in the federal government.

But in January, the top court announced it would consider taxes from online sales and is expected to issue a ruling before the end of the year. "He'd be supportive of such efforts".

With attacks escalating on Amazon.com (AMZN) from President Trump, is the e-commerce leader's once-resilient stock showing signs of cracking?

Numerous people who take to social media to complain about Amazon don't have much of an impact on the company's overall business.

The Postal Service and Amazon declined comment on their business relationship.



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