Amazon slides after Trump launches another attack at the e-commerce giant

AmazonMarkets Insider


Amazon is shrugging off the latest attack from President Donald Trump, trading up 1.04%, at $1,386, on Tuesday. Shares initially fell about 1% but have fought their way back into positive territory.

“I am right about Amazon costing the United States Post Office massive amounts of money for being their Delivery Boy,” Trump tweeted Tuesday morning. “Amazon should pay these costs (plus) and not have them bourne by the American Taxpayer. Many billions of dollars. P.O. leaders don’t have a clue (or do they?)!”

Trump’s tweet is the latest in his string of criticisms about the e-commerce giant. Amazon has seen almost $30 billion of its market cap wiped away as the president has tweeted about the company four times in the past week.

A report last week from the news website Axios said Trump was “obsessed” with the company and its CEO, Jeff Bezos. Bezos also owns The Washington Post, which is often critical of the Trump administration. Trump frequently describes The Post, among other news outlets, as “fake news.”

Amazon shares are up 16% this year.

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