Donald Trump is calling for an investigation into individuals who have allegedly spread “fake rumors or statements” suggesting he plans to sell shares of Truth Social, his social media platform.
He addressed the issue on Truth Social, writing, “There are fake, untrue, and probably illegal rumors and/or statements made by, perhaps, market manipulators or short sellers, that I am interested in selling shares of Truth. THOSE RUMORS OR STATEMENTS ARE FALSE. I HAVE NO INTENTION OF SELLING!” Trump also called for these individuals to be investigated, emphasizing the importance of Truth Social in his recent election win.
On Thursday, shares of Trump Media and Technology Group, which owns Truth Social, dropped 23% to $27.70, continuing to dip in after-hours trading. However, by the time Trump posted his statement at 10:05 a.m. ET, the stock began to recover, reaching $30.80 per share.
