American Invest Hub
  • Politics
  • Investing
  • Business
  • Latest News

American Invest Hub

  • Politics
  • Investing
  • Business
  • Latest News
Politics

DJT stock jumps 10% after Trump rules out selling stake in Truth Social operator

by admin November 10, 2024
November 10, 2024

Shares of Trump Media soared on Friday after President-elect Donald Trump reiterated that he has no intention of selling his stake in the company behind Truth Social.

He also called for an investigation into those spreading contrary rumors.

Trump’s statement, shared on Truth Social, marked his first personal message since his surprising win against Democratic Vice President Kamala Harris in Tuesday’s election.

DJT stock spiked by more than 10% immediately following Trump’s post, prompting a brief halt in trading due to heightened volatility.

“These are false, misleading, and possibly illegal rumors—likely spread by market manipulators or short sellers—that I am looking to offload my shares in Truth,” the Republican leader declared in his Friday morning post.

“THESE CLAIMS ARE FALSE. I HAVE NO PLANS TO SELL!” Trump added.

“I call for an immediate investigation into those behind these baseless rumors and any past attempts to manipulate the market.”

Trump holds the majority ownership of Trump Media, with his stake valued at over $3 billion as of Friday.

The company reported a net loss of $19 million for the previous quarter, with revenues just exceeding $1 million.

Despite this, the stock saw gains on Wednesday, fueled by Trump’s political victory and the support of his followers who view investments in the company as a show of solidarity.

However, shares dropped more than 22% on Thursday, erasing some of the gains seen in the lead-up to the election.

The post DJT stock jumps 10% after Trump rules out selling stake in Truth Social operator appeared first on Invezz

0
FacebookTwitterGoogle +Pinterest
previous post
Ibovespa struggles as Brazilian real hits two-week lows amid rising inflation concerns
next post
FTX files $1.8 billion lawsuit against Binance and Changpeng Zhao

Related Posts

Karine Jean-Pierre says Biden is ready to handle...

March 7, 2024

Key study in FDA abortion pill case at...

February 8, 2024

Chair Jordan demands answers from dozens of major...

August 6, 2024

Is Airbnb contributing to the global housing shortage?

November 10, 2024

Putin shared surprising advice with Iranian counterpart following...

April 18, 2024

Fetterman scolds Dem colleagues for failing to condemn...

April 20, 2024

CEO wins autographed golden Donald Trump sneakers after...

February 20, 2024

Axelrod criticizes Trump for mocking Biden’s stutter: ‘Pathetic...

March 13, 2024

RFK Jr. challenges Trump to debate after ‘Democrat...

April 29, 2024

GOP turns up heat on House Dems with...

May 17, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest News

    • GMS stock jumps 29% on takeover interest from Home Depot, QXO, analysts raise PTs

      June 22, 2025
    • Japan’s rice price surge: what’s driving it and why it could spark a political crisis

      June 22, 2025
    • BofA raises STOXX 600 target amid resilient global growth, warns on Mideast risks

      June 22, 2025
    • Palantir co-founder: US must prevent Iranian nukes

      June 22, 2025
    • Fed governor Waller advocates for July rate cut amid tariff, labor market outlook

      June 21, 2025

    Categories

    • Business (3,209)
    • Investing (2,537)
    • Latest News (2,000)
    • Politics (1,530)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: americaninvesthub.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 americaninvesthub.com | All Rights Reserved