Donald Trump Takes Another Shot at Amazon and Jeff Bezos
30 March, 2018, 00:41 | Author: Lora Ball
And he hasn't been shy about his disgust for the Washington Post, the newspaper owned separately by Amazon CEO Jeff Bezos. DA Davidson lifted their price objective on shares of Amazon.com from $1,300.00 to $1,500.00 and gave the stock a "buy" rating in a report on Wednesday, November 29th.
So just what could the Trump administration really do to Amazon?
So investors were ready to cash out at least some of those big gains when the news site Axios.com reported that Trump was "obsessed" with somehow further regulating Amazon's business model. Also, VP Shelley Reynolds sold 544 shares of the business's stock in a transaction dated Thursday, February 15th.
At time of publication, Amazon shares were trading in the green at $1,432. The company has market cap of $15.80 billion.
But Trump's criticism of Amazon is not based in fact.
Amazon is one of the so-called FANG stocks that lead the technology sector: Facebook Inc., Amazon, Netflix Inc. and Google, now part of Alphabet Inc.
He does see "some small risk" that President Trump could criticize the online retailer using "the bully pulpit" and possibly even place some roadblocks in its way. The stock decreased 2.60% or $37.22 during the last trading session, reaching $1394.2.
In late 2017, Trump said Amazon should pay "much more" in fees for delivery.
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. Amazon does not hold a stake in the Washington Post.
"The president has talked about the need to have tax parity between online retailers and brick-and-mortar retailers", White House spokesman Raj Shah said on Fox News on Thursday.
The White House told reporters on Thursday that the president now does not have a plan to make changes as it comes to Amazon, but is consistently attempting to find ways to "level the playing field" for businesses in the US.
"I have stated my concerns with Amazon long before the Election".
And today Trump admitted in a tweet his concerns over the internet retail giant and its impact on traditional retail businesses. "Towns, cities and states throughout the US are being hurt - many jobs being lost!" The institutional investor held 7,125 shares of the consumer services company at the end of 2017Q4, valued at $8.33 million, up from 5,803 at the end of the previous reported quarter.
Rep. Kristi Noem, a South Dakota Republican, has called for legislation requiring online retailers to collect sales tax. However, items sold by third-party vendors may have different arrangements for how they distribute their goods.
Years ago, when Amazon had few warehouses, it was able to get a competitive advantage by not charging sales tax.
He wrote on Twitter: "Why is the United States Post Office, which is losing many billions of dollars a year, while charging Amazon and others so little to deliver their packages, making Amazon richer and the Post Office dumber and poorer?".
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