8 hours agoTrump won $500 million with a single post on his social network
Periskopi(2 years ago)
(2 years ago)The social network of newly elected president of the United States, Donald Trump, has experienced a decline in stock value, a few days after he won the presidential election. However, with a single post on “Truth Social”, Trump managed to set up the stake and won half a billion dollars. On Friday, stock markets suffered [...]
The social network of newly elected president of the United States, Donald Trump, has experienced a decline in stock value, a few days after he won the presidential election. However, with a single post on “Truth Social”, Trump managed to set up the stake and won half a billion dollars.
On Friday, stock markets suffered decline. “Businessmen usually buy stock when positive news is expected about that company, and when that happens, they sell it once they get satisfactory profits.
But then, on Friday everything went down. When the shares began to fall, Trump became activated with a post, CNN writes.
Everything is fake, and probably speculations made by market manipulators who say I'm interested in selling shares at '{0}'Turth. All these speculations are lies. I don't plan to sell”, he wrote.
It didn't last long. Stocks increased by 15 percent. Trump is the largest shareholder in the company, and its 114.75 million shares are now worth about $3.7 billion, out of 3.2 on Friday morning.
The Trump social network is much smaller than the technological giants like “X”, “TickTok” and “Instagram”. “Truth” has earned only one million dollars in the last quarter.
After Trump won the US elections, concerns have been raised over ethical violations whether he will exploit the social network as president for personal gain.
