It’s no question that President-elect Donald Trump‘s tweets now lead to instantaneous responses — but one investing age group might be taking Trump’s tweets a little too far when it comes to their investments, reports Business Insider.
The millennial demographic is paying mind to Trump‘s tweets, according to a survey from brokerage E-Trade. It surveyed 904 people and discovered 60 percent of them ages 25 to 34 traded due to one of Trump‘s tweets.
The older the trader, the more Trump‘s influence declined. Just 36 percent of people between 35 and 54 took action on a tweet, followed by even fewer people older than 55 at just 20 percent.
“Older investors have lived through many more market environments, and they are cognizant of the fact that what the president-elect says is much less meaningful in the longer term,” Mike Loewengart, E-Trade’s vice president of investment strategy told Business Insider.
That’s not to say his tweets don’t matter to the market, even if Boeing Co.’s (ticker: BA) dip in December was only temporary following a Trump condemnation. According to Larry Adam, the chief investment officer for the Americas at Deutsche Bank Wealth Management, there isn’t an other option for investors other than to watch his tweets, reports Business Insider.
All those surveyed were trading from Jan. 1 to Jan. 10 and managed a minimum of $10,000 online.
Stock app Trigger has taken advantage of Trump’s Twitter spurts and added a function to its app to trade stocks following his tweets, where individual investors could benefit.
“While it’s no surprise that Trump has been actively tweeting since the election, no one anticipated that a single tweet could potentially eradicate billions of dollars in market cap from large companies,” the company wrote in a blog post.
7 of the Best Stocks to Buy for 2017
10 of the Kardashians’ Favorite Kompanies
More from U.S. News
7 of the Best Stocks to Buy for 2017
10 of the Kardashians’ Favorite Companies
8 Ways President Donald Trump Will Affect Wall Street
Why Donald Trump’s Tweets Could Hurt Millennial Investors originally appeared on usnews.com
