Trump Media Stock Jumps as Ex-President Trump Declares 'Not Selling'
Trump Media Stock Reacts to Trump's Assurance
Shares of Trump Media jumped dramatically on Friday following major shareholder Donald Trump's declaration that he has 'no plans to sell' his stake in the company. In a press statement at his golf club in California, Trump declared, “I’m not selling”, prompting shares to rise by as much as 25% during intraday trading.
Stock Performance Following Trump's Comments
Ending the day with a closing price of $17.97 per share, Trump's stake accounts for nearly 57% of the company, with the lockup agreement for selling shares expiring shortly. He stressed, “I have absolutely no intention of selling” amid ongoing discussions about the company's future amidst declining prices.
Market Impact and Company Status
Trump Media, home of the social media platform Truth Social, still retains a market capitalization exceeding $3.7 billion. Despite a dramatic decline of nearly 80% since its peak, Trump emphasizes his motivation as not purely financial, reinforcing his role in the company's viability. Analysts noted that investments in Trump Media seem tied to Trump's political fortunes.
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