Shares of Northrop Grumman and Lockheed Martin were under pressure after President Donald Trump raised the idea of large cuts to defense spending.

KEY POINTS

  • Defense stocks dropped sharply Thursday afternoon after President Donald Trump suggested the U.S. could massively cut defense spending.
  • Trump has sent mixed messages on military spending throughout his 2024 campaign and in the early days of his presidency.
      • MrEff@lemmy.world
        153·
        5 days ago

        I was already going hard on AI stock, then day of inauguration when he sent the clear message of where tech companies stand in running this country I dumped ALL investment money into AI stock. If I have to live in this hellscape I better at least get to retire in it.

        • abrake@lemmy.world
          26·
          5 days ago

          My brother, have you heard about the benefits of diversification? If you want to retire at all, don’t put all your eggs in one basket.

    • Sc00ter@lemm.ee
      111·
      5 days ago

      I bought lockheed martin call options after the way the steel markets rebounded

      Edit: just checked volume on LMT. 2.4M today vs an average of 1.35M. Yeeeeeeah. Lot more buyers than usual today

      • oyo@lemm.ee
        4·
        5 days ago

        Yay for incredibly immoral investments. It’s disgusting how stock trading has been gamified and divorced from what it actually is, owning and supporting a company.

    • jmcs@discuss.tchncs.de
      8·
      5 days ago

      Since the entire thing is contingent on China and Russia agreeing to half their defence budget too, the only thing to bet on is when it will be rescinded.