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Trump Media shares rise after Trump says he won’t sell

3 hours ago

1 minute read

2024.11.08 10:45

WASHINGTON (Reuters) – Shares of Trump Media & Technology Group rose on Friday after U.S. President-elect Donald Trump said he had no intention of selling his shares in the company, which owns his Truth Social media platform.

In a post on Truth Social, Trump rejected what he described as rumors that he was planning to sell shares.

“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.

“THOSE RUMORS OR STATEMENTS ARE FALSE. I HAVE NO INTENTION OF SELLING!,” Trump added.

© Reuters. FILE PHOTO: The Truth social network logo is seen on a smartphone in front of a display of former U.S. President Donald Trump in this picture illustration taken February 21, 2022. REUTERS/Dado Ruvic/Illustration/File Photo

Shares of the company were up about 8.7% at $30.15 in midmorning trade on the Nasdaq after earlier rising 12.5%.

On Thursday, shares in the company slumped as speculative bets on Trump winning a second term lost steam a day after his victory over Democrat Kamala Harris.

3 hours ago

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