Lockheed Martin is sliding after Trump tweets that F-35 costs are 'out of control'
The first of Britain's new supersonic 'stealth' strike fighters accompanied by a United States Marine Corps F-35B aircraft, flies over the North Sea.
This time around, Trump turned his gaze to Lockheed Martin's F-35 program in a tweet early Monday morning.
"The F-35 program and cost is out of control," tweeted Trump. "Billions of dollars can and will be saved on military (and other) purchases after January 20th."
The next generation fighter jet has overrun costs - overshooting the original budget by 50% - but is near completion. In total, the military has spent roughly $1.5 trillion on the development of the F-35.
Following the tweet, Lockheed Martin's stock fell by as much as 3% and was down 2.55% as of 8:45 a.m. ET. Based on the number of shares outstanding, the tweet has shaved just over $2 billion from Lockheed's market cap.
The tweet comes just one week after Trump took aim at Boeing over costs for the replacement Air Force One. Boeing fell by 1.5% after the tweet but ended the trading day positive.
After the Boeing tweet, Trump argued that part of his role as president will be to "negotiate" prices.
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