Lockheed Martin shares drop as Trump says F-35 costs are “out of control”

130814-O-ZZ999-280 ATLANTIC OCEAN (Aug. 14, 2013) An F-35B Lightning II aircraft lands aboard the amphibious assault ship USS Wasp (LHD 1) during the second at-sea F-35 developmental test event. The F-35B is the Marine Corps variant of the Joint Strike Fighter and is undergoing testing aboard Wasp. (U.S. Navy photo courtesy of Lockheed Martin by Andy Wolfe/Released)/Released)

This is good to see. About time Lockheed felt some real pressure on the F-35. Lockheed and many subcontractors have been riding this taxpayer financed gravy train for far too long.

(From The Denver Post)

Lockheed Martin Corp. slumped after President-elect Donald Trump tweeted that costs for the F-35 fighter-jet program, the Pentagon’s most expensive weapons system, are “out of control.”

“Billions of dollars can and will be saved on military (and other) purchases after January 20th,” the Monday post continued, referring to inauguration day. The tweet followed similar comments the president-elect made on “Fox News Sunday.”

Shares of Bethesda, Maryland-based Lockheed dropped 3.6 percent to $250.11 at 9:31 a.m. in New York. Other defense stocks also dropped sharply.

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