On Friday, US President-elect Trump said he had no intention of selling his Truth Social shares. Trump Media Technology (DJT) rallied, and trading was temporarily suspended due to large intraday fluctuations. The stock plummeted 22% on Thursday, which is thought to be the ebb of the Trump deal.
On Friday, Trump Media Technology Group (DJT), the parent company of Trump's social media Truth Social, rose rapidly in the intraday period, reversing the decline in early trading. Trading was temporarily suspended due to sharp fluctuations. Eventually, the stock closed up more than 15%. DJT plummeted 22% on Thursday, interpreted as a decline in Trump's deal.
On Friday, US President-elect Trump said he had no intention of selling his Truth Social shares. This is the first time Trump has personally written a statement since winning the US presidential election this week. He posted this news on Truth Social:
There are false, untrue, and potentially illegal rumors and/or statements, which may be made by market manipulators or short sellers claiming that I intend to sell shares in Truth.
Those rumors or claims are all false. I have no intention of selling it! (Wall Street News website note: Trump emphasized these two sentences in English capital letters.)
I hereby request that the relevant authorities immediately investigate those spreading these false rumors or statements, as well as those who may have done so in the past.
Trump is the majority shareholder of Trump Media, whose holdings were worth more than $3 billion as of Friday.
On the day of the US election, Trump Media reported a net loss of 19 million US dollars for the previous quarter, and operating income was only slightly higher than 1 million US dollars. Despite this, investors' enthusiasm for the stock continued unabated, fueled by Trump's victory in the election.