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.
  • withabeard@lemmy.worldEnglish
    101·
    2 months ago

    Who’s to bet a load of shares get bought up, then suddenly this announcement is rescinded?

    • Sc00ter@lemm.ee
      81·
      2 months 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
        2·
        2 months 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.