Trump’s tweets are proving again and again to have the capacity to make significant waves.
Now there’s an app that will send a phone notification to users if Trump tweets about any companies where they own stock. The feature was created by Trigger Finance, an app that notifies, or “triggers,” users about changes in market indicators, Business Insider reported. Since the launch of the feature Wednesday, it’s become the most popular trigger on the app, according to the company.
After Trump tweeted about the cost for Boeing to build Air Force One, the company’s stock took a downturn, and a similar stock slump happened for Lockheed Martin after he tweeted about the company’s F-35 jet program, MarketWatch reported.
Some company leaders are saying that their PR employees are up around 3 a.m. in case Trump sends out an early-morning tweet that could devastate the company’s stock, CNN wrote in a dispatch from this year’s CES tech trade show.
Rachel Mayer, co-founder and chief executive of Trigger Finance, said she’s been hearing “overwhelming” demand from the app’s user base for a Trump tweet notification after his electoral victory in November. “When he tweets, the market moves,” she said by phone. “Our users see this as an investment opportunity and a way for them to manage their portfolio risk.”
Trigger Finance launched last year as a simple tool to help investors monitor the real-world events that affect their stock portfolio. Mayer said that they have long been interested in developing triggers for more non-traditional market indicators, such as announcements from important figures like Janet L. Yellen, head of the Federal Reserve, or billionaire investor Warren Buffett. A Trump trigger is their first foray into this realm, although they’ve been hearing demand from customers for similar triggers for others, such as secretary of state nominee Rex Tillerson and Sen. Bernie Sanders, I-Vt.
“Tweets really do matter,” Mayer said.
(c) 2017, The Washington Post · Karen Turner