Will Donald Trump sell shares of Truth Social parent company? On Friday, the president-elect gave a resounding no.
“I HAVE NO INTENT TO SELL,” Trump wrote on the social media platform on Friday, citing “rumors” to the contrary and calling for the investigation of people he said claimed otherwise.
The statement helped shares of the social network’s parent company, Trump Media & Technology Group (DJT)which recently rose 16% after retreating earlier in the session.
Trump Media stock has had a volatile run. Currently trading around $32, they are on track to finish the week a little above last Friday’s close, but have seen lows below $28, highs above $45, and a few trading stops along the way.
Concerns about Trump’s plans for its stock have weighed on the company’s shares in recent months, with concerns about expiring lockup agreements limiting its ability to sell, pushing shares to nearly $12 in September.
So far, it has yet to announce a sale; His statement today marks the second time he has said publicly that he has a stake worth billions of dollars.