Former President Donald Trump said he might consider moving his media company's listing after it briefly stalled on the Nasdaq stock exchange.
In a post on Truth Social on Friday, the former president complained that shares of Trump Media & Technology Group, which uses the ticker DJT, were delisted by Nasdaq, writing that it happened twice during the day.
“Why did Nasdaq stop selling Donald Trump? What right does he have to do this?” Trump’s post read.
Earlier in the day, Trump said he would not sell his shares in Donald Trump Trust despite the stock’s plunge after his debate against Vice President Kamala Harris on Tuesday. The stock fell to its lowest level since going public in March last week, and has been on a downward slide for weeks.
“No, I'm not selling. I'm not leaving. I love it. I think it's great,” Trump said while speaking to reporters in California.
PATRICK T. FALLON/AFP via Getty Images
Reuters reported that DGT shares were halted trading on the Nasdaq exchange for five minutes after Trump’s comments, a common practice during times of “volatility.” The company’s shares surged about 30% after Trump’s comments and closed Friday up 12% on the day, at $17.97 per share.
Trump accused Nasdaq of “taking orders” from the Securities and Exchange Commission, which Trump said had “political reasons” to delay trading of his company's shares “for an unreasonable amount of time.”
“I will hold Nasdaq, and perhaps the SEC, accountable for what they do. If they do it again, we will move the stock to the New York Stock Exchange,” he added.
Trump owns about 57% of Trump Media. Under the terms of the company’s listing, Trump and other insiders will be allowed to sell shares in the company later this month, Reuters reported.
The former president's stake in the company was worth about $2 billion as of Friday. In his Truth Social post, Trump wrote that he “intended to own these shares for a long period of time.”
“In my opinion, it is the true voice of America, but it is certainly my voice, and it will remain so for a long time to come!” he added.
Newsweek We reached out to Nasdaq's press center for comment late Friday via email.
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