Donald Trump’s tweets are having an almost instant impact on the markets and are sending companies into immediate panic mode.
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Many of these corporations targeted by the president-elect – like Boeing (BA), Ford (F), General Motors (GM), and Toyota (TM) – seem to have been caught off-guard by the 140-character bashing. And those holding stocks in those companies were left scrambling to figure out what to do with their investments.
But a new app will help investors and companies keep tabs on Trump’s tweets almost immediately.
Rachel Mayer, the CEO and co-founder of Trigger, told FOXBusiness Network’s Maria Bartiromo that she created the free app after noticing an “overwhelming demand” for it.
“Specifically, if @realDonaldTrump tweets about a stock that’s publically traded, that you own in your brokerage account, or that you watch in our watch list, we will send you a push notification that he tweeted about that,” she said.
Ford said last week that it will expand in Michigan and U.S. instead of building a BILLION dollar plant in Mexico. Thank you Ford & Fiat C!— Donald J. Trump (@realDonaldTrump) January 9, 2017
Mayer said the company noticed that when Trump tweets, the market moves last between one to two minutes. According to Mayer, it takes less than 30 seconds for a trigger to be sent out notifying users what company he is tweeting about.
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“We started with real-time price triggers, like economic events, like if the Fed raises interest rates, we can trigger on currencies,” she said. “This was just released by the overwhelming demand from our users, since the election, because they are seeing when he tweets, the markets are moving.”
Mayer said Trigger has established relationships with the brokerages TD Ameritrade, Scottrade, Fidelity. She noted that just yesterday, Trump sent out a stinging tweet about CNN, a company owned by Time Warner Company.
“So there’s a history of him tweeting about stocks, Toyota, Ford, General Motors,” Mayer said, “and who knows if that’s going to stop after [he assumes office] January 20th.”
.@CNN is in a total meltdown with their FAKE NEWS because their ratings are tanking since election and their credibility will soon be gone!— Donald J. Trump (@realDonaldTrump) January 12, 2017