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Amazon Shares Tank 5% As Bezos Sends Trump Congratulatory Tweet

Thursday, November 10, 2016 10:33
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(Before It's News)

With investors scrambling to ascertain what a Donaly Trump presidency will mean for the markets, Amazon.com, Inc. (NASDAQ:AMZN) shares are down big today following a tweet from its CEO directed toward the new president-elect.

First, a bit of history regarding Amazon’s chief executive Jeff Bezos and Trump. From ZeroHedge:

The animosity between Jeff Bezos, owner of the Washington Post, and Donald Trump is no secret. As the Seattle Times wrote overnight in a timely article asking “how Amazon will fare” under president Trump, “Donald Trump seems to have no love for Amazon.com’s CEO Jeff Bezos, who also owns the Washington Post, a newspaper that aggressively investigated the candidate during a no-holds barred campaign.”

You may have been wondering what Bezos felt about Trump’s win. Well, he issued the following congratulatory tweet earlier today:

While Amazon shares had already gapped down, they really sold off after the message was published:

20161110_amzn
Image courtesy of ZeroHedge

Whether there’s any direct connection between the tweet from Bezos and the stock sell-off is anyone’s guess. But the perception is rapidly growing that Trump has the capacity to move the markets in very significant ways. In fact, it’s happening in multiple ways already, with bonds selling off, financials rallying, and a massive sector rotation taking place.

Amazon shares fell $37.59 (-4.87%) to $734.29 in Thursday afternoon trading. Year-to-date, AMZN is still up 8.46%.

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