Trump Media Shares Surge After Denial of Sale

Following Donald Trump's recent election victory, shares of Trump Media & Technology Group (TMTG) experienced significant volatility, surging nearly 200% from late September to early November. A key factor in the stock's performance was Trump's denial of rumors about selling his stake, which he labeled as 'fake' and possibly illegal, leading to a 12-16% increase in value after his Truth Social post. Amidst speculation about market manipulation by short sellers, Trump has called for investigations into these practices, further influencing investor sentiment. Despite the stock's short-term gains, TMTG's financial health remains questionable, with substantial losses reported in recent quarters. Investors are cautioned as the company's long-term success is uncertain, and the stock is seen as driven by retail investor enthusiasm, akin to 'meme stocks.' Trump's substantial ownership in TMTG, worth over $4 billion post-election, underscores his influence on the company's market dynamics.