iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
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TECH WRECK: FANG Stocks Crash on Trump Fears

If you recall, none of our beloved tech leaders were fans of Trump. They actively supported and conducted fund raisers for Clinton, whilst making disparaging remarks about Trump. At the vanguard of Trump’s ire was Jeff Bezos, owner of Amazon.com and the propaganda arm of the Washington elite, The Washington Post.

No newspaper was more dishonest and subsequently hated by Trump, for coverage that was beyond the pale — as it pertains to honesty and integrity in journalistic standards.

As such, fear is beginning to take hold in Silicon Valley. FANG stocks are crashing lower now, down more than 5.3% at the moment.

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What’s the theory?

Trump is on record saying Amazon is an anti trust concern and how Apple takes advantage of cheap labor overseas, in order to sell their shit here.

U.S. Republican presidential candidate Donald Trump said on Thursday that Amazon.com, the world’s biggest online retailer, has “a huge antitrust problem.”

In an interview on Fox News, Trump also said Amazon Chief Executive Jeff Bezos, who owns the Washington Post, is using the newspaper to influence politicians in Washington to help Amazon on taxes.

“This (Washington Post) is owned as a toy by Jeff Bezos, who controls Amazon. Amazon is getting away with murder tax-wise. He’s using the Washington Post for power so that the politicians in Washington don’t tax Amazon like they should be taxed,” Trump said.

“He’s using the Washington Post … for political purposes to save Amazon in terms of taxes and in terms of antitrust,” Trump said.

“He thinks I’ll go after him for antitrust. Because he’s got a huge antitrust problem because he’s controlling so much, Amazon is controlling so much of what they are doing,” Trump said.

Shares of our beloved FANG stocks are absolutely cratering now.

 

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Hopefully, Trump will investigate Twitter and Facebook for using their monopolies to promote a political ideology too.

Yes, the fire rises.

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12 comments

  1. cancel19

    Karma is a nice biatch!

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  2. the_swatter

    341 pe – stock jockies saddle up for the bareback rank arm jerker ride!

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  3. the_swatter

    the grand globalist douchary continues unabated:

    BREAKING : Less than a Day Into Trump’s Epic Victory, Soros Already Caught Orchestrating Chaos

    http://truthfeed.com/breaking-less-than-a-day-into-trumps-epic-victory-soros-already-caught-orchestrating-chaos/34876/

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    • joyous__ending

      Soros needs to put in jail somewhere.
      I’m sure that dude is breaking some laws.

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    • rigged game

      What about Trump eying Jamie Dimon for Treasury secretary?

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      • the_swatter

        the very same MSM that has been 100% wrong floated that — let’s get a Trump response on that before we get hysterical…

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  4. joyous__ending

    I went to almost all cash this morning, this is whacy. I like Trump but Dow up 170 Nasdaq -60, Vix up…I’m lost
    New York City is about to return to the nexus of power in a big way. Which is cool

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  5. og

    What’s Peter Theil for?

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  6. matt_bear

    Apple would be an easy negotiation/trade off in my opinion. Promise more american jobs in return for being able to bring back their overseas cash at a substantial tax break.

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    • boyaj

      That’s the most rational, logical, non-partisan, simple, and effective suggestion I’ve heard…and this is no sarcasm. All too often, people make things much more complex than they need to be. Doing what you suggested is a net positive for the United States.

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