Donald Trump is calling for an investigation of those who spread “fake rumors or statements” that he plans to sell shares in Truth Social, his social media platform.
President-elect Donald Trump said on social media Friday he has “no intention of selling” his shares of Trump Media & Technology Group, Truth Social's parent company, despite rumors and false statements he claims are circulating, and shares of the company immediately jumped 4%.
Shares of Trump Media soared on Friday after President-elect Donald Trump reiterated that he has no intention of selling his stake in the company behind Truth Social. He also called for an investigation into those spreading contrary rumors.
Quite ironically, once Trump Media (NASDAQ: DJT) is excluded, one would be hard-pressed to find a stock that hasn't seen a massive rally in the wake of Donald Trump's reelection as the President of the United States.
Traders appear to be taking profit after making a quick buck betting on a Trump election victory.
Investors accuse Florida businessman Patrick Orlando of diverting millions of Trump Media shares from them. Orlando was the CEO of the blank check firm that helped take Trump Media public.
One of the most volatile stocks of 2024 is undoubtedly Trump Media & Technology Group Corp. (Nasdaq: DJT). The president-elect's media company, whose primary product is Donald Trump's Truth Social social media platform, has been on an absolutely wild and unpredictable ride since it debuted on the stock market in March.
President-elect Donald Trump has not posted on Truth Social, the platform operated by his social media company Trump Media, since before he won the 2024 election. He has also not posted on Elon Musk's X, Mark Zuckerberg's Facebook and Instagram, or TikTok since defeating Vice President Kamala Harris.
Donald Trump won the 2024 presidential election. So why is Trump Media stock sinking?
Trump Media and Technologies Group saw its shares surge by nearly 200% since late September.
Shares in President-elect Donald Trump's media company are set to give back the gains triggered by his election victory.
The Truth Social parent's shares had traded as a proxy for bets on a Trump victory. Now he's won, what's next?