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Key Takeaways
- “I HAVE NO INTENTION OF SELLING,” President-Elect Donald Trump wrote on Truth Social Friday, citing “rumors” to the contrary.
- The statement helped shares of Trump Media & Technology Group higher after retreating earlier in the session.
- Concerns about Trump’s plans for his shares have been a weight on the company’s stock in recent months.
Will Donald Trump sell shares of Truth Social’s parent company? On Friday, the president-elect gave a resounding no.
“I HAVE NO INTENTION OF SELLING,” Trump wrote on the social-media platform Friday, citing “rumors” to the contrary and calling for the investigation of people who he said claimed otherwise.
The statement helped shares of the social network’s parent company, Trump Media & Technology Group (DJT), which were recently 16% higher after retreating earlier in the session.
Trump Media stock has had a volatile stretch. Currently trading around $32, they’re on pace to finish the week a bit above last Friday’s close—but they’ve seen lows below $28, highs above $45, and a few trading halts along the way.
Concerns about Trump’s plans for his shares have been a weight on the company’s stock in recent months, with worries about the expiration of lock-up agreements that limited his ability to sell, pulling the shares to nearly $12 in September.
So far, he’s yet to announce a sale; his statement today marks a second time he’s said publicly that he’s holding, with his stake valued in the billions of dollars.