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US: Is President Trump Bad News for Amazon?

By  |  November 9, 2016
US: Is President Trump Bad News for Amazon?

As Donald Trump began his march to the White House last year, he became embroiled in numerous feuds. One that got a lot of attention starting last year was a spat with fellow billionaire and Amazon CEO Jeff Bezos over taxes, media coverage in the Bezos-owned Washington Post and antitrust issues.

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    Following Trump’s victory, Amazon’s stock opened down about 3 percent, not a major drop, and probably a lot less than expected after US markets freaked out as the tide shifted from Hillary Clinton to Trump. But Amazon did see a slightly sharper decline than some of its big tech contemporaries, such as Microsoft, Appleand Google parent Alphabet.

    When it became clear that Donald Trump was on the way to becoming the next US president, Dow futures plummeted as the votes rolled in. But US markets recovered this morning, possibly due to Trump’s victory speech, which featured a more conciliatory tone than his divisive and angry rhetoric as a candidate.

    To be sure, Amazon’s stock movement could have nothing to do with Trump. Amazon’s stock has shown to be volatile with multiple peaks and valleys through the years. But some outlets speculate that a Trump presidency could be bad news for Amazon and Bezos.

    Trump’s first dustup with Bezos came late last year. Bezos bought the Washington Post in 2013 for $250 million. Trump has claimed he used the paper to influence politicians in Washington DC and keep them from taxing Amazon.

    Trump has alluded to the possibility that Amazon could face antitrust issues under his presidency.

    Full Content: Geek Wire

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