Former President Donald Trump hinted at potentially relocating the stock listing of his media company after it faced temporary trading halts on Nasdaq.
On Friday, Trump took to Truth Social to express frustration over the two incidents where trading for Trump Media & Technology Group, trading under DJT, was paused by Nasdaq. He questioned, “Why is NASDAQ halting the sale of DJT? What right do they have to do this?”
Despite the stock’s recent dip following his debate with Vice President Kamala Harris, Trump stated he would not divest his DJT shares. He declared, “No, I’m not selling. I’m not leaving. I love it. I think it’s great.”
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As reported by Reuters, the trading halts occurred during moments of increased volatility, typically a routine procedure. Following Trump’s remarks, DJT’s stock jumped by as much as 30%, eventually closing up 12% at $17.97 a share.
Trump accused Nasdaq of being influenced by the Securities and Exchange Commission (SEC), alleging that there were political motives behind the trading delays. He stated, “I am going to hold NASDAQ, and maybe the SEC, liable for doing what they are doing. If they do it again, we will move the stock to the New York Stock Exchange.”
With a 57% ownership stake in Trump Media, Trump’s investment is valued at roughly $2 billion as of Friday. He expressed on Truth Social that he intends to hold onto his shares for the long haul, proclaiming, “In my opinion, it is THE REAL VOICE OF AMERICA, but it is definitely MY VOICE, and it will be for a long time to come!”