Amazon shares dip after president slams Post’s ‘crazy’ coverage
Jul 23, 2018, 8:56 AM
(AP Photo/Richard Drew)
(AP Photo/Richard Drew)
Amazon shares dipped Monday after President Trump continued his criticism of The Washington Post, saying the newspaper is just a “lobbyist for Amazon.”
Amazon shares fell nearly 2.5 percent, before beginning to rebound.
The president’s comments follow scathing reports from the Post over the weekend. At least part of the president’s distaste for Amazon stems from the connection the company has with the Post — both are owned by Jeff Bezos.
President Trump argues that Amazon is taking advantage of the US Postal Service and he says the company is not paying enough taxes.
“The Amazon Washington Post has gone crazy against me ever since they lost the Internet Tax Case in the U.S. Supreme Court two months ago. Next up is the U.S. Post Office which they use, at a fraction of real cost, as their “delivery boy” for a BIG percentage of their packages….” Trump tweeted. “…In my opinion the Washington Post is nothing more than an expensive (the paper loses a fortune) lobbyist for Amazon. Is it used as protection against antitrust claims which many feel should be brought?”
It’s unlikely Amazon will feel much in the way of long-term impacts from the president’s morning Twitter attack. It just had its best Prime Day “in history,” with members buying more than 100 million products despite a rough start that prevented people from shopping.
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