Trump Media Stock Surges as President-elect Trump Defends Majority Ownership Amid Speculation
ICARO Media Group
### Trump Vows to Retain Stake in Trump Media Amid Market Fluctuations
President-elect Donald Trump has emphatically stated that he will maintain his majority ownership of Trump Media, the company that operates Truth Social. This declaration was made through a post on Truth Social, countering rumors that he was contemplating selling his shares. Trump's assertion, which followed his unexpected victory against Democratic Vice President Kamala Harris in the recent presidential election, included a call for authorities to investigate the source of these claims.
In his statement, Trump denounced the rumors as "fake, untrue, and probably illegal," potentially spread by market manipulators or short sellers. He stressed, "I have no intention of selling!" and requested an immediate investigation into those responsible for disseminating the false information.
Following Trump's post, shares of DJT, the ticker symbol for Trump Media, surged by more than 10%, prompting a temporary halt in trading due to the ensuing volatility. Despite fluctuating share prices and a reported net loss of $19 million last quarter against revenue of just over $1 million, Trump's message seemed to reassure investors. The company's stock witnessed high volatility, plunging over 22% on Thursday after an initial rally buoyed by Trump's electoral success.
As of the latest figures, Trump's stake in Trump Media is valued at over $3 billion, underscoring his significant financial interest in the company. His recent political triumph has seemingly reignited investor confidence in Trump Media, leading to notable market movements.