Jeff Bezos’s Amazon Inc. (AMZN) stock closed on Friday, October 11, at $1731.92, up 0.6778%. In the extended trading hours, the stock was around $1,732. There were marginal price movements in the over-the-counter markets. The highest quote for the stock during the day was $1745.45 in the initial trading hours. However, by the end of the trading hours, Amazon’s stock closed $11 less than the opening price of $1,742.92.
Amazon’s stock in October
In the second week of October, from the market open on Monday until the market close on Friday, Amazon’s stock price moved upwards by a marginal 0.0167%. Some of the price movement patterns during the week was similar to the first week of trading in October. Notably, the price movements were mid-week. On a related note, there is an update about President Trump and Amazon, which could change Amazon forecasts until 2020.
The recent news is not about Amazon, but the e-commerce company would benefit from it indirectly. The president, Donald Trump, decided to use one of Amazon’s subsidiaries for the upcoming presidential campaigns. Reportedly, Trump created a verified profile on Twitch, the live video game streaming platform. It could have an impact on the valuation of Amazon’s affiliate investments.
The Trump effect
In a recent event, the president broadcasted his campaign video live in a platform popularly used to stream video games. Donald Trump decided to use Twitch to relay his public address. And he isn’t the only one using the portal for the 2020 election campaign. Presidential candidate Bernie Sanders is also on Twitch with over 89,000 followers.
Also, the US representative of the 14 district in New York, Alexandria Ocasio-Cortez, made an appearance on the same portal in January 2019. Also, Cortez was in a fundraising program on Twitch back in January.
Donald Trump’s rally in Minneapolis, Minnesota, was broadcast from his verified account on the live streaming platform. After the live broadcast streaming on Twitch, there was a gust of online followers. Estimated numbers claimed that 7,000 users were following the message before Friday, October 11. The current status of followers has crossed 65,000. Also, President Trump’s next rally scheduled in Dallas, Texas, will showcase his live streaming channel. The “Keep America Great” rally in Texas will take place on October 17.
Twitch and the US president
Twitch is one of the subsidiaries of Amazon. The company, owned by Jeff Bezos, invested $970 million in Twitch Interactive Inc. five years ago in 2014. At the time, the e-commerce company’s interest in a video game streaming company raised a lot of questions. After all, what could Bezos gain by buying a video game streaming company? At the time, Bezos might have had some plans to merge Twitch with AWS (Amazon Web Services).
But who would have thought that one day the president would show up on this portal? President Trump’s entrance into Twitch could lead to an exponential number of users. And, this is just one year before the much-awaited presidential election. Twitch ad revenues could soar in the coming year.
Trump, Bezos, and Amazon clash
Donald Trump has criticized Bezos on different occasions. On Twitter (TWTR), Trump has made remarks about Bezos’s owning the Washington Post. He nicknamed Washington Post the Amazon Washington Post once. Sources claim the president does this when he is not happy about what it publishes.
In August, Trump commented on the $10 billion Pentagon deal with Amazon. Reportedly, the contract was paused for review in August. The secretary of defense Mark Esper is currently reviewing the contract. Supposedly, the Pentagon plans to move its operations to a cloud computing system. AWS is seen as one of the most prospective bidders. The other potential company for the contract is Microsoft. The same sources claim that Amazon Web Services is already working with the CIA (Central Intelligence Agency). While AWS seems like the inevitable choice for the Pentagon deal, it’s subject to Mark Esper’s approval.
Some sources claim that approximately 15 million viewers keep an eye out for broadcasts on Twitch every day. The portal supports gaming videos as well as hosts channels on sports, music, and politics. The number of users on Twitch is bound to increase for the political channels. A special thanks to Donald Trump for that. Trump has an estimated 65 million followers on Twitter. Even Twitter followers could sign in to Twitch and stay abreast of the presidential campaign. In a nutshell, it’s a massive win for Twitch and Bezos.