Donald Trump has vowed not to sell shares in Truth Social’s parent company and on Friday called for an investigation into rumors of a sale.
Trump’s commitment to the company’s stock was announced in a post on his social media platform, marking his first written post on the site since his election victory.
“There are false, untrue, and possibly illegal rumors and statements, possibly by market manipulators and short sellers, that I am interested in selling Truth stock,” the president-elect wrote. I have no intention of selling it! ”
Trump’s stock in the company is worth more than $3.5 billion. The merger of Truth Social’s parent company, Trump Media, and Digital World Acquisition Corp. took Trump’s company public, and despite the social media platform’s meager revenue, Trump became a member of several He ended up with a billion dollar stake.
The stock has been extremely volatile throughout its existence, rising and falling in close correlation to President Trump’s personal and political fortunes. It has been the subject of a massive short-selling campaign, and the group’s chief executive, Devin Nunez, earlier this year called on regulators to investigate market manipulators.
“I urge those who spread these false rumors and statements, and those who may have done so in the past, to immediately bring them under investigation by the appropriate authorities,” President Trump said Friday.
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