The Amazon Effect, Trump, and Investing in Stocks
Surely, you must have read by now that Amazon posted 34% growth in revenue for Q3 earnings. And the stock jumped up +11% and more than $110 per share in this morning’s trading session…
This is stellar news!
Unfortunately, I sold my Amazon shares some time after Trump had criticized Jeff Bezos and Amazon for being a ‘no profit’ company and ‘doing great damage to taxpaying retailers’.
Of course, Trump likes to exaggerate with words like ‘great’, ‘big’, ‘best ever’, etc…
And, he likes to lie to American public, and essentially in this world wide web of global communities, he is lying to the world.
Well, Jeff Bezos and Amazon has had the last laugh this morning, with the stock going from around $975 per share to more than $1,080 per share! This is of course record-breaking news!
As much criticized as Amazon has been as a company that is threatening brick-and-mortar stores, cable television, and even the wholesale drug industry (as they plan to sell pharmaceuticals on their website, wholesale), they are a great American success story, and that’s what Trump should be praising.
Of course, he shouldn’t be taking credit for it, and his attacks toward Jeff Bezos are mainly because he owns the Washington Post, labeled ‘fake news’ and the ‘liberal media’.
Trump strikes back twice as hard with his attacks when he is criticized, or the Washington Post reports anything negative about him.
And thus, the ongoing feud between Jeff Bezos/Amazon and Trump.
The great dis-service Trump is doing to the American people and investors, is that he has the power as president to influence people with his dialogue.
Prior to this morning, Amazon stock was floundering and its performance was going sideways after Trump’s initial attacks a few months ago. I sold my shares (yet took a nice profit) when the charts shown that Amazon’s stock wasn’t doing that great.
Well, what a surprise, and I realize I should’ve held on to my shares, but hindsight is 20/20, and I fell for all the lies and attacks coming from the president.
Yes, I should’ve held on, but I only blame myself.
Still, Trump put words out there that spoke negatively of Jeff Bezos and Trump. In other words, Trump used the power of the presidency to ridicule a great American company.
This is how powerful words can be when coming from the Oval Office. I think Trump is doing the American people a great dis-service for using his presidency as a vindictive tool to attack various entities who question or critique him. In this case, Jeff Bezos just happened to own the Washington Post, and by connection, Amazon was attacked in a series of tweets aimed at denigrating the American company.
But this is a lesson learned for everyone. And the moral of the story is that anyone in a position of power should not abuse that power, for any reason, but especially with the intent to do personal attacks on various people and entities. It’s unethical, and in the long run doesn’t make America great again!