Pharmaceutical companies experienced the impact of President Trump’s words after he made a statement toward the industry Jan. 11 that resulted in a plummet of stock investment.
After Trump described the drug industry as “disastrous” and made the claim that “they’re getting away with murder,” the stock suffered. EnteroMedics (ETRM) one of the companies effected by the statement, was at $27.70 previous to the comment was at a crushed $15.30.
While the effect of Trump’s speech surprised many, Dr. Adele Harrison, professor of finance and faculty adviser of the Investment Group at California Baptist University said he is not surprised.
“If you haven’t actually sold the stock you have not lost any true money if you didn’t sell–though your position has eroded,” Harrison said.
The influence of his words has painted picture of how fluctuating the future of stocks may become despite what experts
The quick fluctuation of stocks was a surprise to Isaac Yeier, sophmore marketing major.
“With his statement, I would think it is kind of interesting that people pay large amounts of attention to what Trump said,” Yeier said. “Especially because he isn’t an expert in the healthcare field.”
