Trump Media Shares Surge 25% as Trump Refuses to Sell 57% Stake in Truth Social

Sep 13, 2024, 07:00 PM

Donald Trump announced that he has no intention of selling his shares in Trump Media & Technology Group Corp., which owns Truth Social. This announcement caused Trump Media shares to surge by 25% and led to a temporary halt in trading. Trump, who holds a 57% stake in the company, stated that he does not need the money and will not leave the social media platform he created. The shares had previously been down about 75% from their peak in March. The lockup agreement for Trump's shares is set to expire soon. Additionally, Trump Media shares also saw increases of 12% and 17% at different points. Trump, a Republican presidential candidate, reaffirmed his commitment to the company.