8 sources·Politics

Trump surges Truth Social stock with dismissal of selling rumors

President-elect Donald Trump confirms he will not sell shares of Trump Media, boosting stock value significantly after a week of volatility.

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Updated: Nov 8th, 2024, 7:18 PM ET

Summary

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President-elect Donald Trump reiterated on Truth Social that he will not sell his shares in Trump Media, prompting a significant stock surge of up to 15% amidst recent volatility. Following his social media post, which addressed rumors of a sale, stocks rallied but remained only slightly above previous week's levels. Trump's 57% ownership represents a value of around $3.7 billion, despite a reported $19.2 million net loss for the third quarter. His call for investigations into market manipulators raises ethical concerns regarding his dual role as president and businessman.

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