- Trump Media & Technology shares soared after the election.
- Donald Trump reiterated on Friday that he doesn’t sell out — and advised people to stop saying he does.
- “The truth is an important part of our historic victory, and I firmly believe in it,” he wrote.
Shares of Truth Social’s parent company soared in the wake of the election.
Amid the surge in stock prices, President-elect Donald Trump is making it clear: He’s saying he’s not selling.
Furthermore, Trump threatened “market manipulators or short sellers” who he said were spreading “false, untrue, and potentially illegal rumors and/or statements” that he intended to sell Trump Media shares.
“I hereby request that the persons who spread these false rumors or statements, and who may have done so in the past, be immediately investigated by the relevant authorities,” he added. he wrote in a Truth Social post on Friday. “The truth is an important part of our historic victory, and I firmly believe in it.”
Shares in Trump Media were up about 15% by late Friday afternoon. Neither the Trump campaign nor Trump Media immediately responded to requests for comment from Business Insider.
Major investors in Trump Media, including Trump, could have begun unloading their shares In September.
Despite the painful pastSocial Truth has flourished in the run-up to the election, even it seems Eclipse Elon Musk’s X Rating. The stock is booming though Poor finances.
Friday, Trump Media’s market capitalization It was about $6.5 billion. Trump’s majority stake consists of 115 million shares, worth about $3.7 billion as of Friday.
On election day, the company I mentioned Third quarter earningsincluding revenues of $1 million and a net loss of $19.2 million. It said it has $672.9 million on its balance sheet to help expand its just-released Truth+ TV streaming platform.