Trump Demands Inquiry into False Claims About Truth Social Shares
Trump's Response to Rumors
President-elect Trump on Friday refuted claims that he would sell his shares in Truth Social, labeling the talk as untrue and urging for immediate investigations into those responsible for spreading such rumors.
Concerns Over Market Manipulation
- Trump expressed that the rumors may be a result of market manipulation or actions from short sellers.
- He stated, "THOSE RUMORS OR STATEMENTS ARE FALSE. I HAVE NO INTENTION OF SELLING!"
The president-elect holds significant shares in Trump Media & Technology Group, the parent company of Truth Social. Following the expiration of a lockup period, Trump gained the ability to sell shares as of September 19.
Truth Social's Market Performance
- The stock of the company saw an increase following Trump's victory over Vice President Harris.
- Despite stock gains, the business is facing challenges in revenue generation and user acquisition.
Ethics and Asset Management
As Trump prepares to take office, it's uncertain if he will have to divest his stake in Truth Social to adhere to federal ethics regulations. In his previous term, he did not place his assets in a blind trust, opting instead to transfer control to his sons, Donald Trump Jr. and Eric Trump.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.