Tesla's Musk throws down on Amazon, calls for breakup
Jun. 04, 2020 2:46 PM ETAmazon.com, Inc. (AMZN)By: Brad Olesen, SA News Editor19 Comments
- Tesla (NASDAQ:TSLA) CEO Elon Musk, in a reply on twitter, called for Amazon (NASDAQ:AMZN) to be broken up, noting "monopolies are wrong!"
- The tweet comes days after the entrepreneur said he was "off twitter for a while" and was in response to an email image of Amazon's restriction on a book that discussed the COVID-19 pandemic.
- CNBC in a segment highlighted the animosity that may potentially exist between Elon and Amazon.com's CEO Jeff Bezos, not to mention their competing interests in space, with the latter's co. Blue Origin also building space craft. Amazon also invested in Rivian, an electric vehicle manufacturer.
- The WSJ in late May also published a story noting that Amazon was in discussions to buy a driverless-technlogy startup named Zoox.
- The tweet also comes at a time of increased regulatory scrutiny for some of the largest tech names. Wedbush's Dan Ives called it a "storm cloud."
- Moments later, Elon Musk lent support to Jack Dorsey, saying "Jack is doing his best. I support him" -- a reply to an individual critiquing Twitter (NYSE:TWTR) and asking Musk to create a social site.
- Tesla shares have lost steam in the early afternoon, now probing the lows of the day.