Trump's DJT Stock Surge Amid Sale Denial

Shares in Trump Media & Technology Group, the parent company of Truth Social, surged approximately 16% after President-elect Donald Trump confirmed he has no intention of selling his stake, amid rumors suggesting otherwise. Trump attributed these rumors to potential market manipulation by short sellers, calling for an investigation into such activities. The stock, which has been volatile and likened to a 'meme stock', previously saw a significant decline of 23% following a political event but quickly rebounded with Trump's announcement. Despite a third-quarter net loss of $19.25 million and declining revenues, the company maintains a market cap exceeding $5.5 billion. Trump's decision to retain his shares comes after the lock-up period for insiders expired, and his holdings are valued at around $3.9 billion. The market's response reflects both political sentiment and speculation rather than traditional business fundamentals.