Amazon.com, Inc. AMZN shares were trading lower by more than 2 percent Friday as investors digest the latest developments between CEO Jeff Bezos and the National Enquirer.
NYT Reporter: 'Million Things Going On'
New York Times reporter Ed Lee said Friday morning on CNBC's "Squawk Box" that Bezos' allegation that he is being blackmailed by the National Enquirer isn't much of a concern for Amazon shareholders. The issue at hand mostly involves Bezos' personal life and touches on his ownership of the Washington Post, Lee said.
Nevertheless, there are a "million things going on" ranging from the Enquirer's ties to Saudi Arabia to the brother of Bezos' reported mistress Lauren Sanchez, who is reportedly a supporter of President Donald Trump but denied playing a role in leaking intimate and private information regarding his sister for political purposes.
Cramer: Only 'Stupid' Investors Selling
The only investors who are selling Amazon's stock Friday are "stupid," CNBC's Jim Cramer said during a "Squawk on the Street" segment.
A potential outcome would be Bezos handing over half his stake in Amazon to his soon-to-be ex-wife — and she could be a big seller of the stock, the CNBC host said. Until there are more facts on the ground, it would be a mistake to sell Amazon's stock since little is known, he said.
"What the heck do we know?" Cramer said.
Ex-Enquirer Editor: Make Up Story For Trump
The Enquirer's leadership team had "somewhat of a falling out" with Trump over the past few months, so its latest expose on Bezos is a way of "kissing and making up," Jerry George, former Los Angeles bureau chief and former senior editor for the tabloid, told CNBC.
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