Last week we brought you a story about how Donald Trump had managed to wipe off the value of Boeing to the tune of $1.4 billion with one tweet, and this week he’s done exactly the same thing with another tweet, only this time he’s surpassed himself by inspiring a $3.5 billion swing. Surely someone needs to tell him he’s gotta rein it in?
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This week, the unlucky recipient of Donald Trump’s unwitting wrath was none other than Lockheed Martin, a military aerospace company that are developing a new F-35 fighter jet. Here’s what Trump had to say:
The F-35 program and cost is out of control. Billions of dollars can and will be saved on military (and other) purchases after January 20th.
— Donald J. Trump (@realDonaldTrump) December 12, 2016
Trump really should have known how powerful his tweets can be after the fiasco of last week, but even he might have been surprised to learn that the value of Lockheed Martin’s shares plummeted following this revelation by the sound of $3.5 billion. That’s a hell of a swing in one day.
Fortunately, it’s likely that this drop will only be temporary and the company shouldn’t be THAT worried about it, but it’s kind of annoying that organisations have another thing to worry about these days with the economy in the current state that it’s in. It’s not ideal that they’re always going to have to be on their toes hoping the President of their country doesn’t land them in it with a tweet, but I suppose on the flip side of that, it might encourage them to be more efficient in their spending due to the risk of Donald Trump calling them out. Maybe it’s a good thing after all?
For more Donald Trump, check out his daughter – she’s offering a one night only experience with her to the highest bidder. Classy.