Former President Donald Trump made it clear during a press conference that he has no intention of selling any of his shares in the controversial social media platform, Truth Social, which is owned by Trump Media & Technology Group. Trump's affirmation of his commitment to the company led to a significant increase in the company's stock prices, rising by 25% before trading was temporarily halted due to the sudden surge in volatility.
As the lock-up restrictions for Trump and other insiders are set to expire soon, there is speculation surrounding the potential impact of this development on the market. Experts are cautious about the consequences if Trump were to sell a substantial amount of his shares, as it could potentially lead to a drastic crash in the stock price. Trump's authoritative position as the dominant shareholder, with 57% ownership of the outstanding shares, has brought his $1.8 billion stake into the limelight amid the fluctuating value of Trump Media. Recent events, such as concerns about the expiring lock-up restrictions and factors like public opinion polls indicating a close race for the White House, have influenced the company's stock performance. Despite the turbulence, Trump faces decisions on whether to sell any portion of his stake, raising questions about the future trajectory of Truth Social under his leadership.