US: Amazon stock drops after Trump’s angry antitrust threats

On Monday, July 23, US President Trump sent a barrage of tweets; two of the messages were focused on Amazon and the Washington Post—both of which are owned by Jeff Bezos. Right after the opening bell, Amazon stock quickly dropped, going down as much as 1.5% and remains down over 1.15%.

In the first tweet, Trump wrote that Amazon “has gone crazy” with the recent Supreme Court ruling about internet tax. He went on to say that the government would go after Amazon’s use of the US Postal Service next.

“The Amazon Washington Post has gone crazy against me ever since they lost the Internet Tax Case in the U.S. Supreme Court two months ago. Next up is the U.S. Post Office which they use, at a fraction of real cost, as their ‘delivery boy’ for a BIG percentage of their packages,” Trump wrote.

Trump wrote another tweet that focused on the Washington Post, claiming it’s an expensive lobbying arm for Amazon and that the paper is losing money.

“In my opinion the Washington Post is nothing more than an expensive (the paper loses a fortune) lobbyist for Amazon. Is it used as protection against antitrust claims which many feel should be brought?”

Full Content: Politico

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.