Shares of Trump Media & Technology Group (DJT) surged by 15% on Friday, prompting a brief halt due to volatility. This spike came after Donald Trump declared that he had no intention of selling his stake in the company, which is the parent of Truth Social, his social media platform.
Trump’s announcement was made on his Truth Social account, confirming that he holds approximately 60% ownership in DJT. With current prices hovering around $32 per share, Trump Media now commands a market capitalization of roughly $7 billion, translating to a personal stake valued at about $4.2 billion for the former President.
In response to circulating rumors and false claims regarding his alleged plans to sell shares in Truth Social, Trump vehemently denied these allegations. He took to social media to clarify that such statements were baseless and reiterated his firm decision not to divest any holdings.
Calling for an immediate investigation into those responsible for spreading misinformation about him and his company, Trump emphasized the need for accountability and transparency in financial markets.
2024-11-08 13:08:13
Link from finance.yahoo.com