Shares of Lockheed Martin tumbled this week following a report that the U.S. Defense Department decided to trim the number of F-35 stealth warplanes from its next budget by 35%.
, saying that it cannot confirm specific budget details until after the FY23 President’s Budget is released.
An F-35 fighter jet arrives at the Vermont Air National Guard base in South Burlington, Vt., Sept. 19, 2019. Lockheed waved off the claims, saying in a statement that "it is premature to speculate about the proposed defense budget prior to its release," adding that "the F-35 is the most lethal, survivable and connected fighter in the world today, and is strengthening our allies, deterring our enemies, and bolstering our economy."
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