Trump Just Mentioned Micron Stock, But Its Down 5% This Week
President Donald Trump praised Micron on Truth Social Thursday afternoon. He called it one of the "hottest" companies in the world. Micron Technology (MU) stock fell anyway.
The post cheered a $10 billion research lab. Micron had announced that lab a full week earlier. Traders had already moved on.
Micron Stock Was Falling Before Trump Posted
The market did like the news when it was fresh, as MU stock jumped 3.97% on August 20, the day the plan went public.
Every gain from that day is now gone. Here is how the stock has traded since, according to StockAnalysis data.
Shares traded at $918.75 as of this writing, approximately 5% below its weekly open. It also leaves Micron about 27% under its record high of $1,255.
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