Trump Media Shares Soar After Trump Says ‘I’m Not Selling’
- Lockup for company insiders expires end of next week
- Shares are still down more than 50% from a July 15 high
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Donald Trump sent shares of his social media startup soaring Friday after he said he has “absolutely no intention of selling” his stake when a lockup period is set to expire late next week.
Trump Media & Technology Group Corp., parent of Truth Social, surged as much as 30% immediately following the former president’s comments at a California campaign event. More than half the gains evaporated over the next 20 minutes, and the stock closed up 12% to $17.97.