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One Trump’s Twitter Post Cuts $4bn in Lockheed-Martin’s Market Value

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After US President-elect Donald Trump has criticized the cost of the F-35 stealth fighter program, the Lockheed Martin’s market value fell by about $4 billion.

One Trump's Twitter Post Cuts $4bn in Lockheed-Martin's Market Value

An F-35 jet arrives at its new operational base at Hill Air Force Base, in northern Utah (Photo: AP / Rick Bowmer)

Another scandal broke out about the program on development of the controversial F-35 stealth fighter, which Australia plans on investing $A24 billion into for more than 70 planes. This time, the main problem was not some faults of the fighter jet itself, but the cost of the entire program, implemented by a group of companies under the ‘leadership’ of the Lockheed Martin military jet manufacturer. Reportedly, the program’s overall $400 billion price tag has already been dubbed the most expensive weapon system in history.

US President-elect Donald Trump pointed out the inflated value of the program on his Twitter account. He also added that “billions of dollars can and will be saved on military (and other) purchases after January 20th,” when the inauguration of the US President-elect will be held.

The Trump’s statement caused a real flurry on US stock exchanges in respect of shares of the Lockheed Martin. On Monday, within just a few hours after the post of the US President-elect in the in social network, the market value of the Lockheed Martin company fell by about $4 billion. Shares of other defense contractors, including Raytheon and Northrop Grumman, also tumbled Monday.

Information about this was quickly spread by Western media, some of which expressed enough severe criticism of Trump. Once again, statements that Trump is “playing into Moscow’s hands” appeared.

Meanwhile, Trump himself has already criticized authors of the idea to recalculate votes in two US states: Wisconsin and Pennsylvania. The initiators ended in a fiasco – the Trump’s victory was confirmed after the recalculation. According to the US President-elect, such recalculations do not only financial harm, but also injury to reputation to the US.

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