CNN: Trump Made $500M With Truth Social Post

CNN reports:

President-elect Donald Trump’s social media stock had been sinking fast after a short-lived, post-election-victory surge this week. Then, with a single post on Truth Social, he helped boost the stock again – and added a half billion dollars to his net worth as a result.

A half-hour into trading Friday, when shares were down again, Trump sent out a Truth Social post about the company’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!”

Immediately after, the stock surged, rising nearly 15% Friday. Trump is the company’s single largest shareholder, and his 114.75 million shares are now worth about $3.7 billion. That’s up from $3.2 billion at Friday’s market open.

Read the full article.

Trump just made $500 million with a single Truth Social post today: https://t.co/LEPbSMu8cd

— Brian Stelter (@brianstelter) November 8, 2024

This should be investigated by the SEC. Market manipulation.

— Dan C. (@Mets710) November 8, 2024