Trump’s Tweet Sent Lockheed Martin (LMT) Shares Tumbling

Lockheed Martin shares plummeted on Monday morning after President-elect Donald Trump took to his Twitter and said the cost of the company’s F-35 program was “out of control.”

In early market trading, shares of Lockheed fell more than 4%, with its market value dropping $4 billion.

Trump’s full tweet read, “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.”

Bill Phelps, a Lockheed Martin spokesman, said the company has invested large sums of money to reduce the cost of the F-35 stealth fighter program by 60 percent.

Disclaimer: We have no position in Lockheed Martin Corporation (NYSE: LMT) and have not been compensated for this article.

Sofia Vida

Sofia has been writing for major news outlets for over 15 years. In her spare time she enjoys hiking, walking her dogs, and going to concerts.

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