Trump Denies Truth Social Share Sale Rumors

President-elect Donald Trump has denied rumors that he plans to sell his shares in Truth Social's parent company, Trump Media & Technology Group, and has called for investigations into those spreading these claims. Trump's statement follows a surge in the company's stock, attributed to his recent election victory over Vice President Kamala Harris. Despite financial struggles, including a $19.2 million net loss in Q3, the company’s stock rose by approximately 15% after his announcement. Trump, who holds a significant stake valued at around $3.7 billion, emphasized that he does not intend to sell and considers the platform integral to his success. The rise in stock prices contrasts with earlier declines following reports that he could begin selling shares after a lockup period expired in September. It remains unclear if federal ethics rules will require Trump to divest his stake upon taking office.