Donald Trump Dismisses Share Sale Speculation (Image Source: AP)
Shares in Trump Media & Technology Group saw massive upswing after former President Donald Trump confirmed his commitment to retaining his stake in the company, which operates the Truth Social platform. Trump denied what he called “fake, untrue, and probably illegal rumors” regarding his purported plans to sell shares in a post on Truth Social account on X. He blamed the accusations on potential short sellers or market manipulators.
“There are fake, untrue, and probably illegal rumors and/or statements made by, perhaps, market manipulators or short sellers, that I am interested in selling shares of Truth,” Trump wrote on X.
“THOSE RUMORS OR STATEMENTS ARE FALSE. I HAVE NO INTENTION OF SELLING!,” he added.
Trump owns over 115 million shares, or nearly 53%, of Trump Media, which is presently worth £3.7 billion. The company’s market capitalization is approximately £7 billion. After peaking at $33.03 during the session, shares ended Friday at $31.91, up 15.2%. Because of the increased volatility that followed Trump’s remarks, trading was momentarily suspended throughout the session.
Earlier on Thursday, Trump Media’s stock had dipped amid fading speculative interest linked to Trump’s potential second term, following his victory over Democratic candidate Kamala Harris. However, shares had already climbed 5.9% on Wednesday, buoyed by Election Day momentum, Reuters reported.
Trump Media’s 30-day implied volatility remains high at 200%, a drop from its pre-election peak of 300%, according to data from Trade Alert, indicating continued near-term price movement expectations.
