Donald Trump stated on Truth Social that rumors regarding his potential sale of shares in Trump Media are fake and possibly rooted in market manipulation. He asserted, "THOSE RUMORS OR STATEMENTS ARE FALSE. I HAVE NO INTENTION OF SELLING!" He requested an investigation into those spreading these rumors, suggesting they may be acting illegally. This message, delivered after his election victory, resulted in a significant surge in Trump Media shares, increasing over 10% and closing up at $31.91.
Trump Media, which owns the social network Truth Social, saw its shares fluctuate dramatically, reflecting strong investor reactions to Trump's statements and election news. Despite Trump's declaration of no intention to sell his shares, there is a juxtaposition as the company’s CFO Phillip Juhan has filed to sell over $13 million worth of shares. This situation highlights the volatility and speculative nature of Trump Media's share price, which is closely tied to public sentiment and Trump's individual ownership stake.
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