President Trump Comments on Micron Ahead of Market Holiday
President Trump stated on May 22 that Micron could invest over $100 billion in New York. The company's stock rose 19 percent when markets reopened on May 26.
President Trump said on May 22 that Micron is great and that the company could invest over $100 billion in New York. The statement came ahead of a three-day market closure. Markets reopened on May 26. Micron's stock rose 19 percent that day, adding $150 billion in market capitalization.
The same stock had a market value of $70 billion twelve months earlier. Its value reached a record $1 trillion after the latest gain, an increase of $930 billion over the year. The company was not identified by name in the original presidential remarks beyond the reference to Micron.
Key Facts
Story Timeline
2 events- May 22
President Trump said Micron could invest over $100 billion in New York.
1 source@KobeissiLetter - May 26
Micron stock rose 19 percent, adding $150 billion in market cap.
1 source@KobeissiLetter
Potential Impact
- 01
Higher share price increases the company's equity financing capacity.
- 02
The reported investment figure may influence state-level economic planning in New York.
Transparency Panel
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