President Trump Blasts Amazon on Twitter

President Trump Blasts Amazon on Twitter

President Trump Blasts Amazon on Twitter

Amazon is causing "great damage to tax paying retailers", Trump said in a Twitter post Wednesday, causing shares in the online retailer to fall. "Towns, cities and states throughout the US are being hurt - many jobs being lost!", Trump said in the tweet.

The Trump vs Amazon fight is much broader than a spat between the president and the online retailer.

Meanwhile, SunTrust Robinson Humphrey initiates coverage on Facebook (NASDAQ:FB), Amazon, and Alphabet (GOOG, GOOGL) at Buy ratings due to long-term optimism for the internet and digital media.

President Trump has taken another swipe at Amazon, lashing out on Twitter at 3:12am ET and momentarily sending the company's stock tumbling.

In the Wednesday's pre-Market trade, AMZN is trading at $978.35, down $4.39 or 0.45 percent.

As with most of Trump's tweets, it's entirely unclear what action he intends to take on what he perceives as wrongdoing on the part of Amazon. Amazon does pay taxes and since March has been collecting sales taxes on purchases in all 50 states.

"So many stories about me in the @washingtonpost are Fake News". December 7, 2015, was the first time the president tweeted negatively about the company, calling Amazon a "no profit company" and accusing the Washington Post of being a tax haven for Amazon.

Trump's comments come after several business leaders quite White House advisory panels, criticising the president failing to speak out immediately against white supremacists after the weekend rally and then saying they and counter-protesters shared blame for the violence.

Trump also criticized the link between Bezos, Amazon and The Washington Post while on the campaign trail. Grandstanders should not have gone on.

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