Former President Donald Trump’s social media company, Truth Social, plummeted in value after his performance in Tuesday’s presidential debate. But on Friday, he expressed confidence in it.
Speaking to reporters, Trump said he would not sell any of his shares in the company in a potential move to cash in. A six-month lockup of his shares ends next week, allowing him the option to sell them if he wished.
“I don’t want to sell my shares,” he said. “I don’t need money.”
In the aftermath of his remarks, Truth Social stock surged by 12%, recouping some of his loss. The stock had dropped to $16.68 per share Wednesday before coming up to $17.97 Friday.
Trump also later complained that NASDAQ “halted the sale of DJT” after the stock exchange briefly paused trading likely because of the stock’s quick swing in price.
“Why is NASDAQ halting the sale of DJT? What right do they have to do this? They have done it twice today,” he posted on Truth Social. “What’s going on? Are they taking orders from the SEC, which, for political reasons, delayed us for an inordinate amount of time, therefore hurting the stock very badly? I am going to hold NASDAQ, and maybe the SEC, liable for doing what they are doing.”
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Trump owns 57% of Truth Social, and it’s a significant amount of his wealth. Because of Friday’s jump in stock price, Trump’s net worth increased $217 million to $3.9 billion total.
Trump has used Truth Social daily. He returned to X earlier this year but posts most of his personal thoughts on his platform.