Nordstrom Stock Surges After Trump’s Tweet
Time to shop at Nordstrom!
Donald Trump’s power to hurt companies and brands has come to an end. Fortune Magazine reports Cheeto Mussolini dissed the luxury retailer in a tweet yesterday morning condemning the company’s decision to stop selling his daughter Ivanka Trump’s clothing line.
Nordstrom stock then SURGED after the attack by Trump!
Some investors on Wall Street are calling this Nordstrom rise the stock trader’s answer to a political protest, Nordstrom stock barely flinched at President Trump’s criticism, dipping less than 1% before aggressively reversing course, ending the day up more than 4%.
Nordstrom’s stock price reaction runs opposite to that of other Trump tweet targets, including Lockheed Martin (LMT, +0.14%), whose shares fell 2.5%—initially swooning as much as 4%—in December when the President tweeted that its F-35 fighter jet costs were “out of control.” Trump’s tweet last month threatening Toyota (TM, +0.20%) with a border tax if it persisted with its plan to manufacture cars at a new plant in Mexico also swiftly tanked the automaker’s stock, which closed down 0.6% that day.
Nordstrom stock as of this morning looks real good:
Invest in Nords!