stocks Trump Media The big shareholder then jumped Friday Donald Trump said that he does not intend to sell his share.
“I’m not selling,” said the Republican presidential candidate. lock-up agreement ends.
“I have no intention of selling,” Trump said.
Shares of Trump Media jumped as much as 25% in intraday trading after Trump’s comments to the press at a golf club in California on Friday afternoon. Shares closed the day at $17.97 per share, up more than 11%.
Trump said Truth Social, the Twitter-like social media platform owned by Trump Media, “has been great for me,” and that his stake is still worth more than $1 billion.
“But I don’t want to sell my shares. “I am not going to sell my shares,” he said.
“I didn’t do it for the money. I did it because I wanted to have a really strong voice, and it’s a great voice for me.” “And as long as my voice is there, it will always be good.”
The company’s value initially rose when it began trading on the Nasdaq as DJT in late March after completing a merger with a special-purpose buyout firm.
But shares have fallen as much as 80% from their intraday peak in recent months.
“A lot of people think the reason it’s down is because a lot of people think I’m going to sell, and if I do, it’s not going to be the same,” Trump said Friday.
Trump Media, which reported multimillion-dollar losses with little revenue in its most recent quarterly earnings reports, said in U.S. Securities and Exchange Commission filings that Truth Social depends on Trump’s continued popularity.
The company still boasts a market capitalization of over $3.7 billion. Investing in Trump Media has become a way for Trump fans to support him or bet on his political fortunes, analysts said.
The company fell to a post-merger low this week amid concerns that Trump might start selling off its stock once he is freed.