OOPS HE DID IT AGAIN: Trump Tanks ANOTHER U.S Company’s Stocks By Running His Mouth (VIDEO)


On Monday, President-elect Donald Trump decided to wake up and complain about the “out of control” costs of a certain military fighter jet program.

He bragged that by using his superhuman negotiating prowess, he plans to save the U.S. “billions of dollars.”

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Trump wrote on Twitter:

‘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.’

Following Trump’s tweet, the defense contractor’s stock took a 2.74 percent dive in pre-market trading. As of 10:15 a.m., CNBC reported that Trump’s tweet cost the Lockheed Martin $4 billion in the markets.

In response to Trump’s tweet, Lockheed issued a statement claiming that it has already spent lots of money reducing the cost of its F-35 stealth jet program.

According to Reuters, Lockheed Martin’s F-35 leader, Jeff Babione, said on Monday:

‘Since the beginning, we have invested hundreds of millions of dollars to reduce the price of the airplane by about 70 percent since its original costing.

We project it to be about 85 million dollars in the 2019 or 2020 time frame.’

A CNN report published this summer noted that the production costs of 2,457 F-35’s rose to $400 billion, almost twice the original estimated cost.

Over 1,000 planes were scheduled for delivery by 2016. However, as of April, only 179 have been delivered so far.

Trump’s tweet represents the second time the President-elect chose to attack a major defense contractor within the last two weeks.

Last week, Trump blindsided Boeing on Twitter with criticism over the cost of the new Air Force One planes, which so far they were only contracted to design, not build.

Trump tweeted:

‘Boeing is building a brand new 747 Air Force One for future presidents, but cost are out of control, more than $4 billion Cancel order!’

When questioned by the press in the lobby of Trump Tower, Trump went a step further suggesting that Boeing was dishonest with its estimates.

Trump said:

‘Well, the plane is totally out of control. It’s going to be more than $4 billion for the Air Force One program and I think it’s ridiculous. I think that Boeing is doing a little bit of a number. We want Boeing to make a lot of money, but not that much money.’

Following his attack, CNBC reported that Boeing’s stock took a hit.

‘Before Trump’s tweet, Boeing was trading at $152.16 a share. After the tweet, it fell, 1.6 percent to a low of $149.75 a share, according to FactSet. Within the first hour of trading, shares of Boeing were down about 0.5 percent.’

Image via Washington Post

CNBC reports, “The F-35 program made up 20 percent of Lockheed’s total revenue last year.”

The larger story is Trump’s lack of discipline, which could spell disaster for American workers who work for companies like Boeing and Lockheed Martin. When the president says something that makes stock prices take a dive, that jeopardizes jobs. His careless remarks could have ripple effects on an American employer’s bottom line. A real leader would have consulted his advisers and privately reached out to these companies to come up with solutions, then presented those solutions to the American people.

Trump just threw out what he perceived to be a problem, without having any particular solution in mind. This is the kind of behavior we can expect from the future Trump administration, along with much more disastrous economic consequences to follow.


Featured image via YouTube and Twitter.

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