Trump says he is not selling his shares of Truth Social company

Published On Sep 13, 2024, 2:40 PM

Donald Trump announced he will not sell his shares in Trump Media & Technology Group, which owns the Truth Social platform, even as limitations on selling are set to lift soon. This statement led to a 12% increase in the company’s stock price after a recent drop. Trump's decision was in contrast to the expected selloffs from insiders, which raised concerns about the stock price post-expiry of the selling restrictions. Analysts describe the company's fundamentals as weak, emphasizing its non-viable path to profitability and speculation surrounding Trump's political future as primary drivers of stock price fluctuations.

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Stock Forecasts

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Positive

Given Trump's reelection bid and continued ownership interest, coupled with recent stock price volatility and speculative trading, there could be further speculative gains dependent on political developments. However, the lack of fundamentals suggests a high risk of correction.

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