Amazon is the New FAANGS Biggest Looser

Amazon is the New FAANGS Biggest Looser

Amazon has become the newest punching bad for the FAANGS.

This is after making a record of $53 billion loss in the market value. The company has taken over the Facebook application which was leading with the top losses after the major personal data breach scandal. The Company made the losses after the announcement on a report of the involvement of President Donald Trump in regulating the E-commerce behemoth. The company came stumbling down in losses after a fall from 7.4% on Wednesday to close at 4.4% after registering a buying weakness in opportunities in the market.

According to the equity traders, the flu that affected Facebook seems to be spreading to others. Donald trump who is the root cause for this misfortune seems to be laying a target on the tax treatment for the company. The company has had crossed paths with the president in the past where he accused the company of squeezing on high pricing for products delivery to the post office. This led to a fall in its stock value of 1.4% which it registered as its first biggest loosing value.

Trump seems to be targeting the E-market and this is the worse news that the technology investors would wish to wake up to. Meanwhile Whitehouse Press Secretary Sarah Huckabee when questioned about the issue stated that the Whitehouse is not considering any specific changes in relations to the company’s regulations which contradict the information on the ground.

The overall market losses seem not to be of any help to amazon at the moment. The Nasdaq 100 Index seems to have gained a loss of 1.1% to become its biggest loss since January 2016. After going in a case of gains and losses, the S &P 500 Index registered a loss of 0.3 to 2,605 which was a great loss for the day.

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