Donald Trump issued a warning after stocks closed
Former President Donald Trump said he may consider delisting his media company after it was briefly delisted from the Nasdaq stock exchange.
In a post on Truth Social on Friday, former President Trump complained about shares of the Trump Media and Technology Group, which uses the ticker DJT, being halted by Nasdaq, writing that it happened twice in a day.
“Why is NASDAQ stopping DJT sales? Do they have the right to do so?” Read Trump's post in part.
Earlier in the day, Trump said he would not sell shares of DJT despite the stock price slumping after his spat with Vice President Kamala Harris on Tuesday. Shares fell last week to their lowest level since going public in March and have faced steady declines for several weeks.
Speaking to reporters in California, Trump said, 'No, I'm not selling. “I'm not leaving. I love it. I think it's great.”
Reuters reported that Nasdaq closed shares of DJT for two to five minutes after Trump's comments, which is common practice during times of “volatility.” After Trump's remarks, the company's stock price rose as much as 30 percent and closed Friday at $17.97 a share, up 12 percent.
Trump accused Nasdaq of “taking orders” from the Securities and Exchange Commission (SEC), which Trump said had “political reasons” to delay trading his company's stock “for an extended period of time.”
“I'm going to hold NASDAQ, and probably the SEC, accountable for what they're doing,” he added. “If they do it again, we will take the stock to the New York Stock Exchange.”
Trump owns about 57 percent of Trump Media. Trump and other insiders will be allowed to sell the stock later this month, according to company listing provisions, Reuters reported.
The former president's stake in the company was worth about $2 billion as of Friday. In his post on Truth Social, Trump wrote that it is his “intention to own this stock for the long term.”
“In my opinion, this is the original voice of America, but it is definitely my voice, and it will be for a long time!” he added.
Newsweek Nasdaq's press center was reached for comment late Friday by email.