President-elect Donald Trump’s social media stock rebounded dramatically after a post on Truth Social, reportedly adding a half billion dollars to his net worth.
Following a 42% drop since Wednesday’s peak, Trump Media and Technology Group’s shares surged nearly 15% after his declaration that he had no plans to sell his stake in the company, countering rumors of his potential exit, according to CNN. Trump’s post stabilized the stock‘s volatile performance.
“There are fake, untrue, and probably illegal rumors and/or statements made by, perhaps, market manipulators or short sellers, that I am interested in selling shares of Truth. THOSE RUMORS OR STATEMENTS ARE FALSE. I HAVE NO INTENTION OF SELLING!” Trump wrote.
As the largest shareholder, Trump’s stake, consisting of 114.75 million shares, soared in value to approximately $3.7 billion from $3.2 billion at the start…
