Shares for retailer Nordstrom fell briefly Wednesday after US President Donald Trump tweeted his disappointment regarding the company’s decision to drop his daughter’s clothing line.
And there go shares of Nordstrom after Trump tweets Ivanka has "been treated so unfairly" by them" pic.twitter.com/bttt26vfyE
— Steve Kopack (@SteveKopack) February 8, 2017
“And there go shares of Nordstrom after Trump tweets Ivanka has ‘been treated so unfairly’ by them,” wrote CNBC analyst Steve Kopack.
See if you can spot where the President of the United States tries, and fails, to tweet-shame a stock. pic.twitter.com/V4xKFJvzoh
— Ivan the K™ (@IvanTheK) February 8, 2017
On Wednesday morning the president expressed dismay at the company over Twitter claiming they treated his daughter Ivanka “unfairly.”
My daughter Ivanka has been treated so unfairly by @Nordstrom. She is a great person — always pushing me to do the right thing! Terrible!
— Donald J. Trump (@realDonaldTrump) February 8, 2017
“My daughter Ivanka has been treated so unfairly by @Nordstrom,” the president wrote. “She is a great person — always pushing me to do the right thing! Terrible!”
The company last Thursday announced it would remove Ivanka’s brand following threats of boycotts from activists, however they claimed their decision was motivated by sales and not protests.
“In this case, based on the brand’s performance, we’ve decided not to buy it for this season,” the company wrote in a statement that was re-iterated on Twitter Wednesday.
@TimmyLupusbased Based on the brand’s performance we’ve decided not to buy it for this season.
— Nordstrom (@Nordstrom) February 8, 2017
Bloomberg reports Nordstrom had agreed to purchase “Ivanka Trump shoes and apparel for the spring season, then only followed through in purchasing apparel.”
The stock recovered back into positive territory shortly after.
“With Wednesday’s drop, the company’s shares are down more than 10 percent year to date,” according to CNBC.
Nordstrom shares back in positive territory again after that Trump tweet — it only sent the stock down about 0.5% https://t.co/1Q9Xmv82rN
— Steve Kopack (@SteveKopack) February 8, 2017
This isn’t the first time the president’s words have affected a stock price.
Last month shares for media conglomerate Time Warner also dipped after Trump labeled cable news network CNN “fake news.”
Time Warner shares, as Trump tells @Acosta, "You are fake news."$TWX @CNN pic.twitter.com/N1LpAKEXkK
— Carl Quintanilla (@carlquintanilla) January 11, 2017
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