President-elect Donald Trump took aim Monday at Lockheed Martin’s F-35 program, saying on Twitter that the “cost is out of control,” and he will be looking to save money on the fighter jet and other military programs when he takes office.
“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,” Mr. Trump tweeted.
It was the second time in as many weeks that Mr. Trump took to Twitter to blast Pentagon spending.
Last week, he urged the cancellations of Boeing’s contract to build a new Air Force One fleet, which was followed by an abrupt but temporary drop in the company’s stock price.
Similarly, Lockheed Martin’s stock price took a hit, as shares fell more than 5 percent by noon Monday. The aerospace company’s market value dropped $4 billion after the tweet.
More @ The Washington Times
" The aerospace company’s market value dropped $4 billion after the tweet."
ReplyDeleteSo? Market value is a fiction. It is the total stock price multiplied by the number of shares outstanding. The corporation can create more shares out of thin air any time they want to. The price goes up and down depending on nothing more than market hype every day. Every day, a million workers get their 401K contributions deducted from their checks and sent into market funds that creates a demand to buy stocks from people who already own them. None of that is an investment or an indicator of the health of the economy. It's a casino version of hot potato. Don't be caught owning the stock when it crashes.
L-M just went up half a billion in market share while I was typing this. They have 293 million shares outstanding. a 4 billion loss is only $13 per share. At today's price of 253/share, that's only a 5% loss. It's nothing. Just more fake news.
Sharp cookie.
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