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A single Donald Trump tweet just lost Amazon $6 billion in value (~1%)
- Thread starter Exile20
- Start date
Interframe
Member
Meh they'll probably go up $8 billion in value the next day
hydrophilic attack
Member
sounds like a good time to buy
Bedameister
Member
Wow is Donald Trump actually saying something reasonable?
Rebel Leader
THE POWER OF BUTTERSCOTCH BOTTOMS
I give it 24 hours
UnemployedVillain
Member
Eh, they'll be back up in no time. This is just one of those stupid market kneejerk reactions
AuthenticM
Member
did their shares take a plunge?
edit: oh, the 6B$ is for the shares? I thought it was sales.
edit: oh, the 6B$ is for the shares? I thought it was sales.
Uhh, Amazon's market cap is approaching 500 billion.
Half a percent. This isn't threadworthy.
Half a percent. This isn't threadworthy.
Jack Scofield
Member
Stockholders seem like lemmings so much of the time.
skullmuffins
Banned
Only because he's mad about the Bezos-owned Washington Post.
Yoshimitsu126
Member
Damn I wish I had money to invest.
No. They pay an average of 15%. Lower than other companies in the s&p, but Trump is wrong as usual.
ClosingADoor
Member
Im sure Amazon can take the 0.5% loss in value for a day.
Ravensmash
Member
I saw this earlier and then I looked at their stock chart.
Barely a dip in the scheme of things.
Barely a dip in the scheme of things.
pretty much the reaction i'm seeing online as well
Ravensmash
Member
Of course they couldn't.
On what grounds?
Edit: Not saying Trump is right (of course he isn't) but politicians mention private companies all the time.
Trump has been trying to push a Narrative that Amazon pays 0 taxes at any level. Obviously for a long time they did dodge state taxes but that's been changed for years now.
Its a President pushing false information that can potentially cause financial loss on stock markets etc. Its exactly why Twitter should not allow him to do this shit
Its a President pushing false information that can potentially cause financial loss on stock markets etc. Its exactly why Twitter should not allow him to do this shit
Good luck trying to argue a 0.5% loss is statically significant.
What law did the president break?
UnemployedVillain
Member
Lol, their share price will have rebounded before the first draft of the lawsuit is even written
Not according to this:
https://amp.ft.com/content/cf98680c-738f-11e7-aca6-c6bd07df1a3c
Edit: Paywalled for some apparently, bleh
The regression discontinuity of the before and after of Trump's tweet would almost guarantee statistical significance of a fair magnitude.
Jaguar Victory
Member
Libel?
li·bel
ˈlībəl/Submit
noun
1.
LAW
a published false statement that is damaging to a person's reputation; a written defamation.
synonyms: defamation, defamation of character, character assassination, calumny, misrepresentation, scandalmongering; More
2.
(in admiralty and ecclesiastical law) a plaintiff's written declaration.
The only time I've ever agreed with Donald Trump on something...
You know in those films about scary dystopian futures where on company seems to be everywhere and own everything (like Buy n Large in Wall E)? Amazon is - or is trying to position itself to be - that company.
Also: for those saying libel. Politicians in office are exempt from libel laws as long as it's said within the context of their role.
You know in those films about scary dystopian futures where on company seems to be everywhere and own everything (like Buy n Large in Wall E)? Amazon is - or is trying to position itself to be - that company.
Also: for those saying libel. Politicians in office are exempt from libel laws as long as it's said within the context of their role.
x24hrs2livex
Banned
I didn't say it's illegal, I'm questioning how it CAN be legal. How is this any different than encouraging people to go buy Ivanka's products, for example?
Any examples? I'm drawing a blank.
Oh, half a percent? Yeah, if you account for the total number of shares on the market it's a chunk of change. But it drop a few dollars on a stock worth over $350 per share. It's a minor blip in their stock performance and the portfolio of anyone holding Amazon stock. Besides, stocks negatively impacted by President Idiot's tweets tend to rebound and rather quickly.
Edit: Some of ya'll should be listening to Marketplace.
Edit: Some of ya'll should be listening to Marketplace.
The "not paying taxes only makes me smart" guy does have a disingenious point.
But his goal isn't tax fairness(the opposite is the case), its damaging Amazon aka Bezos aka Washington Post.
So consider not falling for it.
skullmuffins
Banned
Yeah. And the chart used in the article is awful. The scale used makes it look like the price dropped off a cliff and the numbers on the chart are so small as to be unreadable so it's impossible to put into context.
Astral Dog
Member
Trump you did it! D:
Dreams-Visions
Member
Uh...I mean he's not wrong.
Local businesses are struggling to compete with Amazon. Whether a tweet was the best place to state that is a different matter. But he's definitely not wrong for the same reasons people weren't wrong to criticize Best Buy, WalMart, Target and other big box stores who would come into towns, drive their margins down to next to nothing and profit on volume and drive out small businesses.
Naturally because this is Trump, I assume he issued this Tweet because he's a bitch and Bezos or someone at Amazon said something that hurt his itty bitty feelings.
Jaguar Victory
Member
It's good for consumers and the transportation industry though.
So move to where there is a distribution center?
Still doesn't negate the fact that it's killing brick and mortar, stores and affecting taxes on a local level.
Dreams-Visions
Member
It's not that simple. It really, really isn't that simple.
Kurt Angle
Member
bought some for gains tomorrow
The greatest retailer in history > random mumblings
The greatest retailer in history > random mumblings