The IT Nerd

We’ve been speculating what Donald Trump will do with his stake in Trump Media. Will he hold onto the stock or sell it to pay for his various “problems”.

Here’s the answer:

Trump Media & Technology Group, the social media business owned by former president Donald Trump, surged on Friday after Trump said he has “absolutely no intention of selling” his stake in the Truth Social owner.

And:

“A lot of people think the reason it’s down is a lot of people think I’m going to sell, and if I sell, it’s not going to be the same,” Trump said. “But I have absolutely no intention of selling.”

That caused the stock to do this:

That’s still over 70% below what it started trading at. But it’s the first positive news that the stock has had in a while. But it wasn’t all good news for Trump. He had a bit of a meltdown in the style of a two year old because of this:

Trump’s declaration prompted the stock to go parabolic. Not surprisingly, NASDAQ stopped trading on the security, which is standard practice when a stock’s price experiences huge swings in one direction or another. Trading was halted twice, each for five minutes. The security was one of dozens of listings on the exchange to be halted on Friday.

In response, the ex-president went on Truth Social to express his bewilderment and to threaten the operators of the exchange:

Seriously, this guy has lost the plot, lost his mind, is a couple fries short of a Happy Meal. Pick the metaphor that works for you or leave one in the comments. The point is that for a guy who claims he understands business, this is a massive over reaction to a pair of very brief trading halts that happen all the time. And he did this on a good news day for his stock. Though as I mentioned he’s still underwater from where the stock started trading at.

Mark my words, this will be short lived. Something will happen either with the election, or with his numerous criminal proceedings or civil proceedings that will trigger him to sell this stock to get money in a hurry. And this will cause the stock to crash. I’m calling now, this is not over.

This entry was posted on September 14, 2024 at 8:51 am and is filed under Commentary with tags Donald Trump. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.