President Donald Trump on Wednesday urged people to boycott tyres from Goodyear Tire and Rubber Co, tweeting that the Ohio-based company had "announced a ban on MAGA hats".
But the company didn't announce such a specific ban, only said it had asked employees to refrain from workplace expressions involving political campaigning or "forms of advocacy that fall outside the scope of racial justice and equity issues".
Trump's tweet immediately sent the company's stock downward. The stock had lost about 3.8 per cent of its value in mid-day trading.
"Get better tires for far less! (This is what the Radical Left Democrats do. Two can play the same game, and we have to start playing it now!)," Trump tweeted.