President-elect Donald Trump has denied reports that he intends to sell his shares in his Truth Social platform.
Trump, in a post on Truth Social on Friday, rejected what he described as ‘rumors and untrue’ that he was planning to sell shares a day after the stock spiked.
“There are fake, untrue, and probably illegal rumors and/or statements made by, perhaps, market manipulators or short sellers, that I am interested in selling shares of Truth,” Trump wrote.
Reuters reports that shares of the company has gone up about 8.7 percent at $30.15 in midmorning trade on the Nasdaq and hit a high for the session of $32.
However, the stock was briefly halted for volatility after spiking on Trump’s comments.
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