Argentine markets suffered what can only be characterized as a bloodbath on Monday, subjecting the peso, bonds, and local stocks to brutal declines. The reckoning spread beyond the shellshocked country’s borders, and one Nasdaq-listed firm dubbed the “Amazon of Latin America” suffered a merciless correction. Populist Alberto Fernandez Creams Mauricio Macri in Argentine Primaries Argentina’s stock...
Edward Snowden tweeted a warning to Amazon’s AWS division this morning regarding a recent decision to ban all of Iran from the platform. Amazon kicks Iran off AWS, Snowden responds An American company, Amazon is forbidden from doing most types of business with the hermit kingdom of Iran. The US government has taken this ban so seriously that they have even added certain known Iranian Bitcoin...
Amazon stock's market value fell by a whopping $28 billion in Monday’s stock market slaughter. Since July 18, when Amazon reported its quarterly earnings, it’s market value has declined by $103 billion. How huge is this loss? Let’s put it into perspective and then figure out why AMZN stock is getting hit so hard. Amazon Lost More Value Than Some Nations Are Worth The $103 billion market cap loss...
While the Department of Justice launches investigations into giant technology companies for anticompetitive practices, one might think Amazon would be deserving of additional scrutiny. After all, Amazon has put countless companies out of business and has been crushing the competition, as its revenue is now half that of Walmart's. Its ability to undercut pricing on virtually every product it sells...
Amazon founder Jeff Bezos sold almost 1 million Amazon shares worth $1.8 billion in the last three days of July 2019. The sales reduced Bezos' stake in Amazon to about $110 billion. According to an SEC filing, Bezos sold 960,000 Amazon shares for $1,900 a share from July 29 to July 31 in three separate transactions. After the sales, Bezos still owns 58.1 million AMZN shares and remains the online...
Amazon stock is down about $15, or 1 percent, in after-hours trading after the company missed earnings estimates by 6 percent. The e-commerce giant did manage to beat the revenue estimate by about 1 percent. Results do not include Prime Day. Amazon's Revenue Now Half of Walmart's Amazon continues to crush the retail and cloud world with $63.4 billion in revenue in the second quarter alone...
Treasury Secretary Steven Mnuchin concurred with the DOJ that anti-competitive practices at the big tech companies warrant an antitrust investigation -- an idea first proffered by Walmart. In an interview on CNBC, Steven Mnuchin said that while there have been many benefits to Amazon, the company has also destroyed the American retail industry, thereby limiting competition. What is the difference...
The writing is on the wall that Mark Zuckerberg has completely botched the planned Libra rollout. Even if the digital currency ever sees the light of day, it's not likely to be within Facebook's own timetable of 2020. And the coin already has a stigma attached to it thanks to the shellacking that Congress gave David Marcus, Zuckerberg's wingman. Ben Mezrich, the author of "Bitcoin Billionaires,"...