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.
Trump: I am not selling my $DJT stock.
Checkmate ☺️#TruthSocial pic.twitter.com/8qYSVjwO0X— Kennie McCormick (@magakennie1) September 14, 2024
