UPDATE 2:26 p.m. EST:
President-elect Donald Trump's tweet hit Lockheed Martin hard. The company lost $4 billion in market value on Monday, CNBC reports.
That amounts to $28 million per character of tweet.
Lockheed competitors Boeing and General Dynamics' stocks also slipped after he tweeted Monday morning.
Donald Trump tweeted on Monday that the F-35 fighter jet program is "out of control."
The F-35 is made by Lockheed Martin, one of the biggest defense contractors in the world.
The company's stock dropped 2.6 percent after Trump's tweet, Reuters reports. A week before the election, Lockheed Martin inked a $6.1 billion deal for the F-35 program after more than a year of negotiations.
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.
— Donald J. Trump (@realDonaldTrump) December 12, 2016
Here's the Trump tweet. It came after unrelated tweets about Russia and the CIA.
Boeing is building a brand new 747 Air Force One for future presidents, but costs are out of control, more than $4 billion. Cancel order!
— Donald J. Trump (@realDonaldTrump) December 6, 2016
Last week, Trump made a similar statement about Boeing, the makers of Air Force One.
The context
When Trump tweeted about Boeing, he claimed the $4 billion costs were "out of control." Boeing later countered by saying its contract was only for $170 million, though it had budgeted $2.7 billion.
Trump made a similar statement in a Fox News Sunday interview. A Lockheed Martin spokesman told The Wall Street Journal, “We look forward to working with the president-elect and his administration to further build on the F-35 program’s record of demonstrated performance and affordability.”
More on the F-35
The F-35 program is the Pentagon's "most costly acquisition program," according to the Government Accountability Office. The very expensive jets (roughly $400 billion for 2,400) are extremely advanced but have proved to be problematic.
Additionally, United Technologies makes the engines for the F-35, the Journal reports. United also owns Carrier Corp., which Trump struck a deal with to keep some jobs from moving to Mexico, later facing criticism for dubious reports about jobs saved.
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