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Trump Rejects Selling TMG Shares, Calls for Investigation
Donald Trump denies selling his shares in Trump Media & Technology Group, sparking discussion about conflicts of interest and market manipulation.
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United States
PoliticsUs PoliticsEntertainmentInvestigationStock MarketBusinessConflict Of Interest
Trump Media & Technology GroupNasdaqSecurities And Exchange CommissionBrennan Center For JusticeTrump Organization
Donald TrumpDevin NunesDonald Trump Jr.Eric TrumpAllen Weisselberg
- What was Donald Trump's recent statement regarding his shares in Trump Media & Technology Group?
- Donald Trump, the largest shareholder of Trump Media & Technology Group (TMG), with a 57% stake, reasserted his intention not to sell his shares in the company. He also called for an investigation into alleged market manipulation affecting TMG's stock.
- What is a blind trust, and how did Trump handle his business holdings during his previous presidency?
- While not legally required to divest assets upon assuming office, most US presidents establish blind trusts to avoid such conflicts of interest. Trump previously avoided this during his first term, handing management to his sons and the company's CFO.
- Who has been accused of manipulating TMG's stock, and what is the significance of Trump's call for investigation?
- Short sellers, who profit from stock price drops, have been accused by TMG CEO Devin Nunes of manipulating DJT stock. Trump's statement and the potential investigation reflect the ongoing tension between TMG's leadership, short sellers, and the significant volatility of the stock.
- What potential conflicts of interest does Trump's financial stake in TMG present given his upcoming presidential term?
- Trump's call for an investigation raises potential conflicts of interest due to his upcoming presidency and substantial financial stake in TMG. His holdings are valued at $3.6 billion, raising questions about his ability to oversee regulatory agencies while having a large vested interest in a company they regulate.
- What has characterized the stock performance of Trump Media & Technology Group (TMG), and what comparisons have been made?
- TMG's stock (DJT) has experienced significant volatility, rising sharply after Trump's statement and previously plunging 23% in a single day. This volatility has led to comparisons with meme stocks, those driven by social media hype rather than fundamentals.