Trump Media & Technology Group Stock Rises

NEW YORK/WASHINGTON (Reuters) – Shares of Trump Media & Technology Group surged on Friday after U.S. President-elect Donald Trump declared he would not sell his shares in the company, which runs the Truth Social media platform.

In a post on Truth Social, Trump dismissed rumors regarding potential share sales, issued a day after the stock declined. He claimed those rumors were likely created by market manipulators or short sellers, declaring:

> "THOSE RUMORS OR STATEMENTS ARE FALSE. I HAVE NO INTENTION OF SELLING!"

By midday Friday, shares climbed approximately 12% to $31.04, reaching a session high of $32. Trading was temporarily halted due to volatility following Trump's statements.

The stock experienced a slump on Thursday as speculative bets on Trump’s successful re-election subsided after he defeated Democrat Kamala Harris. The shares had risen by 5.9% on Wednesday, post-Election Day.

Despite pre-election polling showing a tight race between Trump and Harris, online betting markets favored Trump, prompting investors to engage heavily in stocks perceived to benefit under his administration. Consequently, Trump Media stock surged roughly 200% in the six weeks leading up to the election.

Trump previously stated in September that he would retain his shares in the company and remain on the platform he founded. He holds nearly 115 million shares, representing a 53% stake in Trump Media. At Friday's share price, his stake was valued at about $3.6 billion, with a total market capitalization of approximately $6.7 billion.

A report from financial analytics firm S3 Partners indicated that investors betting against Trump Media have incurred losses of $420 million since the stock began tracking the odds of Trump winning the election.

> Note: This story has been corrected to reflect the stake value of $3.6 billion instead of $4 billion, as mentioned in paragraph 11.