This One Donald Trump Tweet Resulted In A Company’s Stock To Plunge $3.5 BILLION This Morning
Donny Trump is out on Twitter trying to nickel and dime companies, consequently resulting in billions of dollars in market value plunging from knee-jerk reactions from investors.
The pres-to-be tweeted the below this morning about Lockheed Martin, the aerospace company that recently secured its their ninth contract with the US Defense Department for F-35 fighter jets on the deal of more than $6.1 billion, according to the Pentagon.
This one tweet caused the Lockheed Martin’s market value to plummet $3.5 billion, more than 3 per cent in early trade.
Following Trump’s jab, Jeff Babione, Lockheed Martin’s F-35 program leader responded by challenging the President-elects claims.
“Since the beginning, we have invested hundreds of millions of dollars to reduce the price of the airplane by about 70 per cent since its original costing, and we project it to be about 85m dollars in the 2019 or 2020 time frame.”
According to The Independent, Lockheed Martin’s F-35 Lightining II is expected to become the next leading-edge platform for the US Air Force, Navy and Marines, and for the armed forces of nearly 10 US allies.
The F-35 Lightining II helmets are dope.
Trump’s Lockheed Martin call out comes a week after he condemned the cost of a new Air Force One plane being built by Boeing as “out of control.”