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Trump Sold His Boeing Stock In June

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Trump Sold His Boeing Stock In June
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Some Boeing Co (NYSE: BA) shareholders are up in arms on Tuesday after President-elect Donald Trump tweeted that he intends to terminate a deal in place for the company to build the next Air Force One.

“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” Trump tweeted.

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Boeing’s stock opened Tuesday’s session down 0.6 percent.

Some Trump followers remembered a tweet from 2013 when Trump claimed he was buying Boeing stock.

“Boeing stock went way down because of 787 – so I just bought stock in Boeing – great company!” he said at the time.

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Trump aide Jason Miller reportedly said that Trump sold his entire stake in Boeing back in June.

If that’s the case, the investment seems to have paid off for Trump. From January 2013 to June 2016, Boeing stock was up 64.0 percent compared to a 43.9 percent gain for the SPDR S&P 500 ETF Trust (NYSE: SPY).

In the past, Trump has said he’s “not a stock person.”

At the first presidential debate back in September, Trump said the stock market was in a “big, fat, ugly bubble” due to the extended period of historically-low interest rates.

Of note, CNBC's Phil LeBeau raised questions on Trump's tweet figures, saying, "I'm curious where this $4 billion number comes from," and adding that the replacement fleet figures have thus far come in at $1.65 billion.

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Posted-In: Donald TrumpNews Politics Travel Movers Media General Best of Benzinga

 

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