-
Shares of Trump Media & Technology are rising after the election.
-
Donald Trump reiterated Friday that he’s not selling — and warned people to stop saying he was.
-
“The truth is an important part of our historic victory,” he wrote, “and I believe in it deeply.”
Shares in Truth Social’s parent company are rising in the aftermath of the election.
And amid the surge in stock prices, President-elect Donald Trump is making it clear: He says he’s not selling.
In addition, Trump threatened “market manipulators or short sellers” who he said were spreading “fake, untrue and likely illegal rumors and/or statements” that he planned to sell Trump Media stock.
“I hereby request that the people who have spread these false rumors or statements, and who may have done so in the past, be immediately investigated by the appropriate authorities,” he wrote in a Truth Social post on Friday. “The truth is an important part of our historic victory, and I believe in it deeply.”
Shares of Trump Media rose about 15% in Friday afternoon trading. Neither the Trump campaign nor Trump Media immediately responded to requests for comment from Business Insider.
Trump Media’s top investors, including Trump, could potentially have started unloading their shares in September.
Despite a bumpy past, Truth Social thrived in the run-up to the election and even seemed to eclipse Elon Musk’s X valuation. The stock is flourishing despite meager financial figures.
As of Friday, Trump Media’s market cap was about $6.5 billion. As of Friday, Trump’s majority stake consists of 115 million shares worth about $3.7 billion.
On Election Day, the company reported third-quarter earnings, which included revenue of $1 million and a net loss of $19.2 million. It said it had $672.9 million on its balance sheet to further expand its just-launched TV streaming platform Truth+.
Read the original article on Business Insider
