Shift4’s Isaacman Picked to Run NASA; Shares Dip on News, But That Could Be Short-Term

— Jeff Ward, Lehigh Valley News Briefs

Update: Shift4 shares dipped under $100 at the close to $99.96.

Shift4 Founder and Chief Executive Jared Isaacman is President-Elect Donald Trump’s choice to run NASA.

Isaacman is a pilot and has been in space aboard private SpaceX missions. He built Shift4, a business valued at about $10 billion. SpaceX is controlled by Elon Musk, a Trump adviser.

The news wasn’t so good for Shift4 shareholders. The stock (NYSE:FOUR) dipped on the news, trading at $104.28 at 1:01 p.m., down about 10%. The shares have been rising steadily, however, and are about $50 over their 52-week low.

That could be a short-term move. Shift4 President Taylor Lauber and Chief Financial Officer Nancy Disman are on-board with Isaacman’s philosophy of “profitable growth.” That is, Shift4 does not take losses to gain market share.

Also, if Isaacman does become the administrator of NASA, the company could go up for sale again. That is just my speculation, but Isaacman sought bids earlier, then decided they weren’t high enough. It could continue operating as is; options are many.

The company is based in Upper Saucon Township, Lehigh County. It processes payments for hotels, restaurants, sports teams, arenas, casinos and other businesses.

Unlike some Trump nominees, Isaacman is not a TV personality but he has a lot of time in front of the camera and has appeared on CNBC numerous times.

Isaacman is worth about $1.9 billion, according to Forbes. He founded what is now Shift4 in 1999, when he was 16.

Disclosure: I own shares of Shift4 as part of a buy-and-hold strategy.