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Trump's social media stock increases after posting on Truth Social
(MENAFN) President-elect Donald Trump's social media stock had been rapidly declining following a brief post-election rise this week. Then, with a single post on Truth Social, he helped increase the stock again, increasing his net worth by half a billion dollars.
At Fridays market start, shares of trump Media and Technology Group had plunged 42 percent from their previous high immediately after Wednesdays open, in what appeared to be a classic "buy the rumor and sell the news" strategy. Traders frequently acquire a stock in anticipation of a beneficial occurrence for a company, and then sell to benefit from their investment.
After that, 30 minutes into trading Friday, when shares declined again, Trump shared a Truth Social post about the firm’s stock: “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!”
At Fridays market start, shares of trump Media and Technology Group had plunged 42 percent from their previous high immediately after Wednesdays open, in what appeared to be a classic "buy the rumor and sell the news" strategy. Traders frequently acquire a stock in anticipation of a beneficial occurrence for a company, and then sell to benefit from their investment.
After that, 30 minutes into trading Friday, when shares declined again, Trump shared a Truth Social post about the firm’s stock: “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!”

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