Boeing Stock Slips After Donald Trump Tweets ‘Cancel Order’ on New Air Force One
Donald Trump tweets with great frequency, but this morning a single message significantly impacted the stock market when he attacked Boeing over the cost of a new Air Force One.
Boeing shares dropped more than one percent early Tuesday after the president-elect tweeted that the cost of building a new Air Force One plane was too much.
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Boeing was trading at $152.16 a share before the tweet, but it fell 1.6 percent to a low of $149.75 a share before recovering, according to CNBC, citing FactSet.
“Well the plane is totally out of control, it’s going to be over $4 billion for Air Force One program,” Trump told reporters in the Trump Tower lobby on Tuesday. “I think it’s ridiculous, I think Boeing is doing a little bit of a number. We want Boeing to make a lot of money, but not that much money.”
Earlier this year, Boeing won a contract to build the new fleet of Air Force One planes for the president. It remains to be seen if Trump puts the kibosh on the deal.
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