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President Donald Trump issued a powerful and direct message on Friday morning, putting nefarious actors who may be attempting to tank the share price of Trump Media & Technology Group (TMTG), which trades under the ticker $DJT, on notice.
After rumors circulated that the president would be selling an unknown sum of his shares, which amount to 57 percent of the stock, he set the record straight in a Truth Social post.
“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,” President Trump wrote.
He continued in all caps, “THOSE RUMORS OR STATEMENTS ARE FALSE. I HAVE NO INTENTION OF SELLING!”
He also suggested a probe into the rumors. “I hereby request that the people who have set off these fake rumors or statements, and who may have done so in the past, be immediately investigated by the appropriate authorities.”
Trump made clear, for the second time since the SPAC merger was approved, that he would not be selling his shares.
“Truth is an important part of our historic win, and I deeply believe in it. Thank you for your attention to this matter. MAKE AMERICA GREAT AGAIN!” he wrote.
Shortly after his post, shares of $DJT jumped by four percent, but soared to a 16 percent jump by the afternoon. The stock is currently trading at $32.33 a share as of 1:19 p.m. ET.
Trump’s resounding victory over Harris on Tuesday and his commitment to continue holding the stock could spell trouble for short sellers betting against the stock.
Back in September when the six-month standard lock-up ended on his shares, Trump remarked, “I’m not selling, I love it.”
Popular stock news accounts on X helped spread Trump’s message, but several mainstream financial publications also published his remarks.
Forbes pointed out that the stock also surged after the first assassination attempt in Butler, Pennsylvania, and again after he dominated the first presidential debate against Joe Biden.
According to its website, Trump Media & Technology Group’s mission is to “End Big Tech’s assault on free speech by opening up the Internet and giving the American people their voices back.”
