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Micron dropped so much today, and Trump publicly backed Micron again.
This time, it was a post on Truth Social. Micron announced it would put $250 million into a "Trump account." Trump called it "the largest investment of its kind in history," thanked Micron CEO Sanjay Mehrotra, said it proves "U.S. policies are working," and tied it to America's 250th anniversary of founding.
The money is mainly used to match up to $1,000 per employee's child's account, and to deposit a one-time seed fund of $250 for children in seven states where Micron has factories, including Idaho, New York, Virginia, etc. It is expected to cover millions of children.
This investment is separate from Micron's previously committed over $200 billion in U.S. factory investments.
$250 million is a drop in the bucket for Micron, which has a market cap of hundreds of billions of dollars. What it buys is the president's personal endorsement.