Goodyear tumbles 6% after Trump tweets to boycott the company over MAGA hat ban
At 10:33 a.m., Trump, "Don't buy GOODYEAR TIRES - They announced a BAN ON MAGA HATS. Get better tires for far less! ."
One minute later, shares of Ohio-based Goodyear fell to an intraday low of $9.15, representing an intraday decline of 6%. Inside Eagle Investors, the 20,000-member online community run by 2 Indiana University students that's helping spearhead the Gen Z day-trading revolution The tweet from the President seems to be in reaction to an image that was shared on social media earlier this week.
The image is supposedly of a slide presentation at a Goodyear employee training session. The slide outlines that MAGA attire, politically affiliated slogans or material, all lives matter, and blue lives matter are "unacceptable" forms of attire to wear at the work place, while Black lives matter, and LGBTQ attire are "acceptable."Goodyear said the slide in question was not "created or distributed" by Goodyear corporate.
Additionally, the company said it asks associates to "refrain from workplace expressions in support of political campaigning for any candidate or political party, as well as similar forms of advocacy that fall outside the scope of racial justice and equity issues."Get your daily markets analysis with our Markets newsletter. Sign up now.
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