Trump Demands Investigation Into Rumors of Selling Truth Social Shares
ICARO Media Group
### Trump Denies Rumors About Selling Truth Social Shares, Calls for Investigation
President-elect Donald Trump dismissed rumors suggesting he plans to sell his shares in Truth Social as "untrue" and demanded an immediate investigation into the individuals who spread the rumors. Trump addressed the issue on his social media platform, admonishing those responsible and labeling the statements as potentially illegal.
"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," Trump posted on Truth Social. "THOSE RUMORS OR STATEMENTS ARE FALSE. I HAVE NO INTENTION OF SELLING!"
Expressing his frustration further, Trump requested swift action against those perpetuating these rumors, asserting the significance of Truth Social in his political success. "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," he added. "Truth is an important part of our historic win, and I deeply believe in it."
The president-elect holds a substantial stake in Trump Media & Technology Group, the parent company of Truth Social. He became eligible to sell his shares starting September 19, following the expiration of a lockup provision that restricted company insiders from selling, as reported by The Associated Press.
Following Trump's decisive victory over Vice President Harris in the recent presidential election, the company's stock saw an uptick on Wednesday. This rise in stock value occurred despite the company's struggles, highlighted in quarterly earnings reports, to generate significant revenue or attract new users.
Trump has extensively utilized Truth Social to share statements, repost content, and comment on current events, much like he did on Twitter, now known as X, during his time in office. However, it remains uncertain whether he will need to relinquish his stake in Truth Social to adhere to federal ethics regulations upon assuming the presidency.
During his first term, Trump faced criticism for not placing his assets in a blind trust, instead opting to transfer control of his businesses to his sons, Donald Trump Jr. and Eric Trump.