Thursday, October 3, 2024

Trump Lies About Stock Price, Sends it Soaring Until Sales Are Paused Twice on Suspicion of Manipulation

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I guess there are different ways of interpreting what Donald Trump — convicted of 24 felonies —  did yesterday to cause his Trump Media to be paused from trading twice.

At a press conference, he announced that he would not be selling his shares in the stock even though its price has crashed in recent weeks.

This sent Trump Media stock up 25% in a lightning spike. The stock price went up $3.50, from 16.27 to $20.76. This happened betewen 2:20 and 2:40pm.

When investors realized they’d been played — and that the markets had paused trading on the stock because the whole thing was highly suspicious — the stock fell to %17.97 where it closed.

In addition to briefly manipulating the markets, Trump also lied outright to whoever was out there with him. In the video below he says the stock originally opened at “two dollars” and “went to 182.”

This, of course, is a lie. The Trump Media stock hit $97.54 on March 2, 2022. That was the highest it ever got, and that lasted one day. The stock price collapsed. When Trump merged his company with Digital World in March 2024, the price rose briefly to $61.96 from $34.69. Now it’s worth about half of that.

Here’s the video from Friday. Go to 1:50 in the video to hear the bit about Trump Media having “the biggest increase in the history of the stock market.”

What was worse? The market manipulation or the utter lie about the stock’s price history? Who would invest with this guy?

Below, see Trump’s complaint about the stock trading being halted.

Roger Friedman
Roger Friedmanhttps://www.showbiz411.com
Roger Friedman began his Showbiz411 column in April 2009 after 10 years with Fox News, where he created the Fox411 column. His movie reviews are carried by Rotten Tomatoes, and he is a member of both the movie and TV branches of the Critics Choice Awards. His articles have appeared in dozens of publications over the years including New York Magazine, where he wrote the Intelligencer column in the mid 90s and covered the OJ Simpson trial, and Fox News (when it wasn't so crazy) where he covered Michael Jackson. He is also the writer and co-producer of "Only the Strong Survive," a selection of the Cannes, Sundance, and Telluride Film festivals, directed by DA Pennebaker and Chris Hegedus.

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