This morning Trump crossed the line again, meddling in Wall Street affairs by shitposting about AMZN. He knows exactly what he’s doing, having run a publicly traded company before. He knew before he posted an incendiary remark on Twitter that it would hurt the share price of AMZN. Out of all of Trump’s tweets, this one got me the most pissed off.
I have stated my concerns with Amazon long before the Election. Unlike others, they pay little or no taxes to state & local governments, use our Postal System as their Delivery Boy (causing tremendous loss to the U.S.), and are putting many thousands of retailers out of business!
— Donald J. Trump (@realDonaldTrump) March 29, 2018
Imagine owning calls on AMZN going into today, and then falling victim to this fucking shit. Politics aside, it’s degenerate vagrant homeless man tier’d shit and should not be tolerated.
Shares of AMZN are sliding again, off by nearly $30.
Incidentally, the entire FAAG (FB, AMZN, AAPL, NFLX, GOOGL) is under siege now — down by more than 11% in the past two weeks. We’re talking more than $300 billion in market cap gone in a fortnight.
Here’s the quick run down.
FB: caught stealing personal information for political purposes. What they really did was prostitute themselves to beat quarterly estimates.
AMZN: The President hates Jeff Bezos because he owns the Washington Post, a paper that regularly defecates on him. As a result, he is now looking to fuck him, and by extension, shareholders of AMZN.
AAPL: No drama yet. This is the best performing FAANG stock during the decline, off by 5.5%
NFLX: These idiots added Susan Rice, former Obama National Security Advisor, to their board. This is a woman who is hated by tens of millions of conservatives. This is an idiotic move by Reed Hastings.
GOOGL: These assholes have gone batshit crazy with Youtube, censoring like a motherfucker — booting people off the platform for political bias. On the Google end, it’s only a matter of time before people learn about all of their sins, constant intrusions into user privacy. Google is the king and queen of selling personal data to beat quarterly estimates.
In order for the market to recover and trade up, these stocks need to recover and flay short sellers until they capitulate.
As an aside, I like today’s action.
As for Deutsche Bank, they believe you should ignore Trump and his retarded tweets and get long some AMZN down here.
Source: CNBC
If you enjoy the content at iBankCoin, please follow us on Twitter“We see some small risk that the President could use the bully pulpit to criticize Amazon, and potentially put up some roadblocks for the company,” analyst Lloyd Walmsley advised clients Wednesday. But “if it were such a slam dunk case, we think it is quite likely that we would have seen a tweet from @RealDonaldTrump about an impending regulatory action.”
“In our view, this ship has already sailed. Amazon has been charging sales tax to customers — for its 1P sales – in all the 45 states that have a statewide sales tax…In a way, we think charging sales tax has been a boon to Amazon because it now has extensive fulfillment facilities close to consumers such that it can lead the way in offering faster and more reliable deliveries.”
“We estimate it costs Amazon about $2 per package delivered via USPS,” the analyst wrote. “If Amazon could replicate the last mile costs to below $2 per package, it is likely that the USPS may be operating at the same or similar levels, which suggests that the Amazon business may be breakeven or even profitable.”
“The potential for harm from the President’s ire is far less of a risk, near term at least, than the risks that Cambridge Analytica has exposed around Facebook,” Walmsley added, referring to the ongoing data crisis at the social media titan. “The U.S. Department of Justice focuses on the impact on consumers, not the impact on competitors, when it evaluates antitrust issues. Given Amazon has been a positive force for competition and for consumers, it seems like it would be an unusual target.”
Amazon needs to pay $1 TRILLION in back taxes and they need to do it before Easter.
Excellent idea, I second your motion.
Turns out, I agree with him, on this.
Almost inevitably, though, even when he has a good idea he goes about it in a stupid, disrespectful, destructive way
I think you used to call that playing “4D chess.”
Agree with what? That AMZN has brought lower prices and convenience to millions of consumers? And that strip malls around every corner meant that retail capacity was overbuilt and was due for a culling either way? And please don’t use Toyrs R Us as an example–the leveraged buyout by a PE firm that saddled it debt is what really did them in.
…Company’s lack of sales tax collection on its “third party” platform sales outside a handful of states. The “third-party” business represents roughly half of Amazon’s unit sales…
(from CNBC)
That’s the part I agree with and find objectionable.
I think the argument is rather simple and one I tend to agree with.
The individual taxpayer foots the bill for absolutely EVERYTHING. All costs are ultimately passed on to the consumer. The problem is that individuals and businesses have little incentive to get involved with the infrastructure they use. We don’t want Amazon to become a construction company just cuz they use the post office. So, the government facilitates a transfer from infrastructure users to build and maintain infrastructure.
It’s not hard to look at the state of our infrastructure and the size of corporate balance sheets and see that something is out of whack here.
“All costs are ultimately passed on to the consumer. ” That’s not true. Often companies don’t have the pricing power to pass all their cost increases to consumers, so it is their investors that pay for things through reduced profits.
Also, if this was a true statemetn, then it woudl also mean that all cost savings ultimately get passed on to the consumer as well. Do you think the tax cut (majority of with went to the investor class) will result in lower prices?
I should’ve said “individual taxpayer” rather than “consumer.”
You’re missing the point. Amazon would be nothing of this size and influence if it were not for deep state funneling billions of taxpayer money into this pos marxist surveillance abomination. It’s the billions of taxpayer money used by Amazon for surveillance and spying for the deep state that is subsidizing Amazon’s other business – killing off competition in consumer markets. Trump is right for wrong reasons. Any other company would be broken up or at least its monopolistic influence in politics and government curbed.
this link is for dumb stupid retarded igonorant gullible brainwashed marxist snowflakes who dream and fantasize of living in orwell’s utopia and cannot help themselves not hit the “fake news” button because cognitive dissonance is so painful for them,
https://tinyurl.com/ydadop7r
But to be clear, you don’t give a shit if any one clicks through…
you bloody snowflakes are hopeless with abusing that ‘fake news’ button like lab chimps at raisin dispenser.
Who did the CIA just pick last week to host their cloud? Why I do believe it was Amazon.
No self-respecting, principled, patriotic, freedom loving, aware, non-sheeple, not brainwashed, honorable, virtuous, righteous, decent and conscientious individual would ever, EVER!, support let alone purchase and go long equity in any of the pos filthy marxist deep state captured tyrannical anti-amerikan FAANG. Other than shorting that pos bolshevik garbage with gusto.
You forgot non-sheeple.
Wait, no you didn’t. It’s right there. My bad.
I believe you are a satirist performance artist. Never admit it though, that would compromise your art.
If we lived in a society where the majority of people were principled, patriotic, freedom loving, aware, non-sheeple, not brainwashed, honorable, virtuous, righteous, decent and conscientious individuals, then economic disparity, partisanship and, ahem, *racism* would be at much lower levels.
Exactly right; in such society truth would be just plain truth. Unfortunately we live in a society where truth is racist, truth is anti-semitic, truth is islamophobic, truth is homophobic, truth is…
Considering the people in power are White, Christain, Heterosexual Males and we don’t live in the society you described, what does that imply?
likely that Sac fu**s sheep
except they wield power. they are just front-men for this filth that is the true source of racism and discontent. let’s get rid of them and we’ll all get along just fine. guaranteed.
https://tinyurl.com/ya7gg4v3
how do you propose we get rid of them?
Even ignoring the part about the dead journalist who was investigating the 1%, Soros is a White Heterosexual Male. Looks like you are 1 for 4.
@badJoney, the old-fashioned way
@#, Soros is not white, he’s a jew, and whether he’s a heterosexual male is debatable. he’s a pedophile. but ok, at least let’s leave christians out of it.
https://tinyurl.com/y729xvw6
He sure as hell isn’t a black lesbian.
Real question – is the stock down because investors think people wont subscribe to Netflix because Susan reed was added to board? Most people won’t even know or care. Or is it that big investors care?
FYI, it’s Susan Rice. Rice served as U.S. national security advisor and ambassador to the United Nations under President Barack Obama.
The recent pullback has nothing to do with this.
Typo. But yes I was thinking the same. No relation to news
Fly, you think the frackers and oil stocks will eventually catch up to the increase in oil? These stocks have been destroyed since the oil bear market started in 2014, so depressed.
someone forgot to pass that memo to Diamondback Energy (FANG)
Admit it you wish you voted for HRC. Ironturd has disappeared now that you aren’t a Truptard anymore?
Fly why do you consider what Google is doing to be censoring? They are not a government. That’s like saying the New York Times is censoring me because they don’t publish all the op-eds I send them. Or the local coffee shop is censoring me because they don’t hang my painting on the wall.
These media companies are allowed to curate, are they not?
You’re missing the point. Google would be nothing of this size and influence if it were not for deep state funneling billions of taxpayer money into this pos marxist surveillance abomination. Any other company would be broken up or at least its monopolistic influence in politics and government curbed.
this link is for gullible brainwashed marxist snowflakes who dream and fantasize of living in orwell’s utopia,
https://tinyurl.com/y7znqv95
Does anyone seriously think that the company that operates the cloud servers of the Department of Defense/Pentagon is going to come to harm? Bezos and Mattis are BBF.
…but but but AMZN, just like Google, is a private company that has brought lower prices and convenience to millions of consumers. They would not get involved with the deep state and/or government and use taxpayer money to kill competition in consumer products, right?
White House says nevermind. Trump is full of shit.
Glad I bought this morning.
Bot IQ 17.24
Would have been blasphemous if market tanked the day before Fly’s Roman ancestors killed Jesus.
“AAPL: No drama yet.”
“Goldman Sachs Slashes iPhone Sales Forecast”
https://www.thestreet.com/story/14539708/1/goldman-joins-group-bearish-on-apple-iphone-x-sales.html
That was not a good last half hour close for us bulls.
profit taking before a 3 day weekend. thought it closed fine.
Hope you’re right. I actually thought today was going to be a bear trap(retest the 2/9) lows. Glad I was wrong.
When the hell is money going to rotate into oil/fracking stocks? So many are still depressed from summer of 2014. I’m holding $ESV, $EMES and $FTK. I bought them in January to hold for at least a year, expecting oil to hit $90.
I’ve got some ideas I’ve still got to look into, but I don’t think high-beta stocks (oil, and many tech) will be the ones. I do still hvae GEVO. It did wel during the last two weeks, then lost 10% today. Go figure. (Energy down?)
Trump doing the perp walk with the handcuffs on will be the best day ever.
The scumbag thinks that his position gives him the right to spew endless slander, but a day of reckoning will come. If it isn’t official government policy, it isn’t protected.
Add tesla to the tech unicorn bust. Amazon is gonna pay lot more taxes as well as usps.