Latest Breaking News

BlueWavePsych

(3,056 posts)

29. Trump's Promise Not to Sell His Truth Social Stock May Land Him in Financial and Legal Peril

Sat Sep 14, 2024, 02:26 PM

Sep 14

Nevertheless, this week Trump may have set himself up for some more indictments related to his notoriously unscrupulous business operations. At a press avail staged at his Palos Verdes, California, golf resort, Trump was asked a question about the abysmal performance of his Trump Media and Technology Group (TMTG) stock that has lost more than three quarters of its value since its March debut on the NASDAQ stock exchange...

The problem with that is that, now, if Trump does sell, he could be in violation of Federal securities fraud laws governing stock manipulation and subject to up to 20 years in prison. It is illegal for company principals and major shareholders to mislead investors as to their future positions in a stock.

Driving the point home, Trump later repeated that "I'm not gonna sell my shares. I don't need money" Which makes it all the more curious that he is constantly begging his cult followers for more donations and trying to sell them garbage like Trump-branded sneakers and bibles. But more to the point, Trump has now made a declarative statement that he is not going to sell his shares of TMTG when the lock-up period expires in the next week or so.

https://www.dailykos.com/stories/2024/9/14/2270297/-Trump-s-Promise-Not-to-Sell-His-Truth-Social-Stock-May-Land-Him-in-Financial-and-Legal-Peril

Edit history

Please sign in to view edit histories.

57 replies

= new reply since forum marked as read

Highlight:

Donald Trump Issues Warning After Stock Halted [View all] orangecrush Sep 14 OP

. . . CousinIT Sep 14 #1

I wonder who he has planted in the SEC... Think. Again. Sep 14 #2

He's panicked that he won'tbe able to sell Iwasthere Sep 14 #3

Sounds right orangecrush Sep 14 #6

If he sells now, after publicly saying he won't VMA131Marine Sep 14 #30

He'll find a way to unload it through a private sale FakeNoose Sep 15 #50

Pretty sure you can't do a private sale on publicly traded stock VMA131Marine Sep 15 #56

OK ... FakeNoose Sep 15 #57

"SUSPECTED FRAUD OR MARKET MANIPULATION".... I think we have a winner. groundloop Sep 14 #4

+1 pat_k Sep 14 #7

TFG just pumped the stock by promising not to cash out at his first opportunity. Eugene Sep 14 #14

see post #18 ZonkerHarris Sep 14 #20

Yeah Smackdown2019 Sep 14 #31

Isn't that stock manipulation? Ocelot II Sep 14 #5

Margin called BootinUp Sep 14 #8

I love that movie! COL Mustard Sep 14 #32

One of the few movies that will be a classic forever! PSPS Sep 14 #38

They give the reason trading was halted when they take action ToxMarz Sep 14 #9

Thanks. I had seen the spike and wondered what had caused it. . . . nt Bernardo de La Paz Sep 14 #19

I'm sure he's structured so that COL Mustard Sep 14 #33

It does appear he made a good deal for himself there at TMTG Shermann Sep 14 #41

Market Manipulation! He's lucky all they did was halt trading for a few minutes! slightlv Sep 14 #42

Pump and Dump RussBLib Sep 14 #10

Some time between 2:30 pm - 3:30 pm ET yesterday (9/13/24) BumRushDaShow Sep 14 #11

His lockout period ends on Sep 20, IIRC, and at that point he can sell. RockRaven Sep 14 #12

I'm pretty sure the Nasdaq isn't moniss Sep 14 #13

Idiot "Businessman" Doesn't Know How Stock Exchanges Work LudwigPastorius Sep 14 #15

He's deploying performative nonsense to keep his name (and stock) in the news. . . . nt Bernardo de La Paz Sep 14 #21

F. All of the above. C Moon Sep 14 #16

great minds think alike. barbtries Sep 14 #24

If he truly intends to keep his shares, he would welcome the halting JoseBalow Sep 14 #17

"Bullshit" is too nice. rubbersole Sep 14 #22

Yeah....wish I had the dough to SHORT that POS ticker when it got to $78 all those month ago Bengus81 Sep 15 #53

IN CA on Thursday he said he isn't selling his shares and this I think is why.... ZonkerHarris Sep 14 #18

re: "I believe he has already leveraged his shares for cash loans." thesquanderer Sep 14 #34

My husband says if he could find someone who would actually take the stock as collateral, LauraInLA Sep 14 #43

any bank that already does business with him. ZonkerHarris Sep 14 #45

It's not just foolhardy, I believe it's illegal... thesquanderer Sep 14 #46

Hopefully there are some consequences included in those loans. LiberalFighter Sep 14 #36

so my guess is barbtries Sep 14 #23

Fraud? Manipulation? Lack of funds? Donald? Marcuse Sep 14 #25

Say it ain't so orangecrush Sep 14 #48

Move it to the penny stock sheets? intrepidity Sep 14 #26

Whole lotta true believers got hosed on that deal Warpy Sep 14 #27

It's the true believers who become Chump's best marks FakeNoose Sep 15 #51

So,e of them squandered their whole retirement nest egg on that man's fantasy Warpy Sep 15 #55

were the shares 'given' to Trump? pfitz59 Sep 14 #28

Hahahahahahahaha....... COL Mustard Sep 14 #35

Trump's Promise Not to Sell His Truth Social Stock May Land Him in Financial and Legal Peril BlueWavePsych Sep 14 #29

I hope the media keep asking questions about his company LiberalFighter Sep 14 #37

Is that bottom picture an altered shot of Mel's Hole in E WA? captain queeg Sep 14 #40

I hope NY is right there when he dumps his stock to make sure they collect their $500 million. captain queeg Sep 14 #39

Blah, blah, blah. Just a lot of Dump hot air, as usual. So. like, where is he going to move it, and will Martin68 Sep 14 #44

Iirc, the stock has to maintain $12 for so many days BadgerKid Sep 14 #47

That was the spike on Friday Miguelito Loveless Sep 14 #49

The dolt has a paper fetish? Brainfodder Sep 15 #52

Take it to the pink sheets nilram Sep 15 #54