Trump's Firm Stays Steady Amid Sale Rumors

Shares of Trump Media & Technology Group surged after Trump denied rumors of selling his stake. The stock saw a rally following speculative bets on Trump's potential re-election victory. Trump affirms his commitment to the company, owning a significant stake worth billions.

Shares of Trump Media & Technology Group experienced a notable increase on Friday as President-elect Donald Trump assured he had no plans to sell his stake in the firm, which operates the Truth Social media platform.

Trump took to Truth Social to dispel what he called false rumors regarding his supposed intention to sell shares, emphasizing their fraudulent nature. The company's stock rose by approximately 12%, reaching intraday highs after his public denial.

This rise follows a prior decline caused by speculative trading linked to Trump's potential re-election, with shares previously soaring by around 200% leading up to the election. Trump holds a significant portion of shares, worth around $3.6 billion at recent valuations, despite recent losses incurred by investors betting against its success.

(With inputs from agencies.)