President Donald Trump tweeted his dissatisfaction with retailer Nordstrom on Wednesday for dropping the apparel line of his daughter, Ivanka.
“My daughter Ivanka has been treated so unfairly by @Nordstrom. She is a great person — always pushing me to do the right thing! Terrible!” Trump wrote.
The stock seemed to take a turn into the negative right after the tweet was sent, but then something interesting happened.
Despite the chief executive of the largest economy in the world directly targeting the company, Nordstrom’s stock bounced right back into positive territory.
This has been a pretty standard occurrence for a company targeted by Trump’s tweets. There’s a sell-off — and then the stock comes right back.
Lockheed Martin, which was attacked by Trump for the cost of the F-35 fighter jet program, initially dove around 5% following the tweet in December. The stock, however, bounced back in the days following and is now trading 0.8% below the level from before the Trump tweet.
Lockheed appears to have gotten the worst of the companies about which Trump has tweeted, mostly likely since Trump has a significant amount of authority over the F-35 contract.
Boeing, which Trump hit for the cost of a replacement to Air Force One on December 6, fell by just 1.5% and ended that same trading day in the green. Boeing’s stock is up just more than 9% since the tweet.
General Motors only fell 1% after Trump tweeted about their factory. Toyota fell only 0.5% after the president went after their production plans. GM’s stock is roughly flat since the tweet, while Toyota is down around $8 a share — but that came after weak earnings.
The declines in the stocks at which Trump takes aim also seem to be diminishing.
Nordstrom slid by roughly 0.6% at most after the Trump tweet and was back up into the green within minutes. Lockheed and Boeing’s falls were larger and came just weeks after Trump won the election.
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