President-elect Donald Trump's tweets are proving again and again to have the capacity to make significant waves.
Now there's an app — Trigger — that will send a phone notification to users if Trump tweets about any companies in which they own stock. The feature was created by Trigger Finance Inc., whose app notifies, or "triggers," users about changes in market indicators. Since the launch of the feature Wednesday, it's become the most popular trigger on the app, according to the company.
After Trump tweeted about the cost for Boeing to build Air Force One, Boeing's stock took a downturn, and a similar stock slump happened for Lockheed Martin after he tweeted about the company's F-35 jet program.
Some company leaders are saying that their PR employees are up around 3 a.m. in case Trump sends out an early-morning tweet that could devastate the company's stock, CNN wrote in a dispatch from this year's CES tech trade show.
Rachel Mayer, co-founder and chief executive of Trigger Finance, said she's been hearing "overwhelming" demand from the app's user base for a Trump tweet notification after his electoral victory in November. "When he tweets, the market moves," she said. "Our users see this as an investment opportunity and a way for them to manage their portfolio risk."
Trigger launched last year as a simple tool to help investors monitor the real-world events that affect their stock portfolios.
Mayer said company officials have long been interested in developing triggers for more nontraditional market indicators, such as announcements from important figures such as Janet L. Yellen, head of the Federal Reserve, or billionaire investor Warren Buffett.
A Trump trigger is the company’s first foray into this realm, although they've been hearing demand from customers for similar triggers for others, such as Rex Tillerson, Trump’s secretary of State nominee, and Sen. Bernie Sanders (I-Vt.).
"Tweets really do matter," Mayer said.
Turner writes for the Washington Post.