Trump's Social Media Stock Soars After No-Sell Announcement

Photo: Donald Trump (Instagram)

Former President Donald Trump announced Friday that he will not be selling his shares in his social media company, Truth Social. This news caused the company's stock price to jump significantly.

Trump’s statement came ahead of a key date when insiders, including Trump, could start selling their shares if they choose. The lock-up period, which keeps insiders from selling their shares, ends on September 19, provided the stock price stays above $12.

In response to a reporter's question, Trump said, “No, I’m not selling. No, I love it.” His comments led to the company's stock price soaring by 25% before trading was paused due to volatility. By late afternoon, the stock was up 19%.

Photo: Donald Trump (Instagram)

Trump, who owns 57% of the company’s shares, emphasized that he’s not planning to leave the company, which had seen its value drop recently due to market concerns and political factors.

Read Next: Tim Walz Claims He 'Took Football Back' From Republicans During Wisconsin Campaign Speech

Source: CNN

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