Shares of the social network of the newly elected American president, Donald Trump, had fallen rapidly after a short-lived rise.
But with a single post on Truth Social, Trump helped raise the stock and add half a billion dollars to the app’s net worth as a result.
It is known that in the open market, shares of Trump Media and Technology Group had fallen 42%, writes CNN, the Telegraph reports.
But half an hour later, when stocks were down again, Trump tweeted: “There are rumors and/or false, untrue and possibly illegal statements made by, possibly, market manipulators, that I am interested in selling shares. Those rumors or statements are false. I have no intention of selling.”
Soon after, the stock rose nearly 15%.
It is reported that Trump is the single largest shareholder of the company and his 114.75 million shares are now worth about $3.7 billion.
However, the fact that he can benefit financially from the statements he makes on the platform has raised ethical concerns. /Telegraph/