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In a development that has provided a fresh upward jolt to the shares of Trump Media and Technology Group (NASDAQ: DJT), the parent entity of Truth Social platform, the US president-elect has now unambiguously denied a rumor that pertained to his gigantic stake in the newly formed company.
To wit, in a dedicated Truth Social post, Trump has termed all rumors regarding his supposed intention to reduce his stake in Trump Media and Technology Group “fake, untrue, and probably Illegal.”
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! I hereby request that the people who have set off these fake rumors or statements, and who may have done so in the past, be immediately investigated by the appropriate authorities. Truth is an important part of our historic win, and I deeply believe in it. Thank you for your attention to this matter. MAKE AMERICA GREAT AGAIN!
The shares of TMTG are up around 9 percent following this unambiguous announcement by the president-elect.
For the benefit of those who might not be aware, the president-elect currently retains a mammoth 59 percent stake in Trump Media and Technology Group (TMTG), which corresponds to 114.75 million shares. Based on the current stock price of $30 per…
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