President Donald Trump has been making headlines over the course of the past few weeks. First, we had to deal with his Twitter rants about North Korea. Then, we had to listen to his shocking comments regarding the violent protests in Charlottesville, Virginia. And on Wednesday, Trump called out Amazon (NASDAQ:$AMZN) on Twitter, saying the e-commerce behemoth is severely hurting retailers and causing United States job losses.
Following Trump’s tweets, Amazon shares dropped as much as 1% in premarket trading Wednesday. Even though the Washington-based company’s shares were lower for much of the morning, they did recover about midway through the trading day. As of 12:14 ET, the stock was higher by roughly $1.
“While this is not his first tweet about Amazon and taxes (and of course, the Washington Post), we do find it interesting that he is now linking Amazon and job losses in traditional retail,” Edward Yruma of KeyBanc Capital Markets wrote in a letter to clients Wednesday.
Mentioned above, this is not the first time Trump has bashed Amazon. In fact, during a presidential campaign rally in February 2016, Trump said to the crowd: “If I become president, oh [does Amazon] have problems. They’re going to have such problems.”
Featured Image: twitter
