Trump Threatens to Move Media Company's Stock Listing After Nasdaq Halts Trading

Former President Donald Trump has threatened to move the stock listing of his media company, Trump Media & Technology Group, after its shares were briefly halted on the Nasdaq stock exchange. In a post on his social media platform, Truth Social, Trump expressed his frustration with the trading halt, accusing Nasdaq of acting on "political reasons" and vowing to hold the exchange and the Securities and Exchange Commission (SEC) liable if it happens again.

Uncovering the Controversy: Trump's Media Company Faces Trading Challenges

Nasdaq Halts Trading in Trump's Media Company

According to the article, Trump's media company, which trades under the ticker symbol DJT, experienced two trading halts on the Nasdaq exchange during the day. Trump took to Truth Social to question the exchange's actions, asking, "Why is NASDAQ halting the sale of DJT? What right do they have to do this?"

Trump Defiant in the Face of Declining Stock Value

The article also notes that earlier in the day, Trump had stated that he would not sell his shares of DJT, despite the stock's value dropping after a debate against Vice President Kamala Harris on Tuesday. The share price had plummeted to its lowest level since going public in March, and had faced a steady decline for weeks.

Potential Move to the New York Stock Exchange

In response to the trading halts, Trump threatened to move the stock listing of his media company to the New York Stock Exchange, stating, "If they do it again, we will move the stock to the New York Stock Exchange." This suggests that Trump is willing to take drastic measures to ensure the stability and trading of his company's shares.

Trump's Stake and Ownership in the Media Company

The article reveals that Trump owns roughly 57% of Trump Media & Technology Group, and his stake in the company is worth around $2 billion as of Friday. Trump expressed his intention to hold onto the stock for a long period, stating that it is "THE REAL VOICE OF AMERICA" and "MY VOICE."

Regulatory Concerns and Potential Implications

The article also touches on the regulatory aspects of the situation, with Trump accusing Nasdaq of taking orders from the SEC and claiming that the SEC had "political reasons" for delaying trading in his company's stock. This raises questions about the potential regulatory scrutiny and challenges that Trump's media company may face going forward.

Market Reaction and Volatility

Despite the trading halts, the article notes that the company's stock price surged as much as 30% after Trump's statements and closed the day with a 12% gain, reaching $17.97 per share. This volatility highlights the market's sensitivity to Trump's involvement and the potential impact of his statements on the stock's performance.Overall, this article delves into the complex and evolving situation surrounding Trump's media company, its stock listing, and the regulatory challenges it faces. The former president's defiant stance and threats to move the stock listing underscore the high-stakes nature of this ongoing saga.