Trump Media’s stock trades on the Nasdaq Composite. It surged in price on Friday after Trump announced he won’t be selling shares in the company.
That spike was so big that it triggered two five-minute trading pauses. Such pauses are routine, and are designed to provide a cooling period. They happen dozens of times a day for various stocks.
- the first Trump Media (DJT) halt occurred at 2:26 p.m. ET and was lifted at 2:31 p.m. ET
- after it resumed trading before it was halted again at 2:34 p.m. ET for another five-minute halt
Trump spat the dummy:
- “What right do they have to do this? They have done it twice today. What’s going on?”
- “I am going to hold NASDAQ, and maybe the SEC, liable for doing what they are doing,”
- “If they do it again, we will move the stock to the New York Stock Exchange.”
Unfortunately for Mr. T, shifting the stock to the NYSE would have no effect since both Nasdaq and NYSE both follow the same SEC rules.
Spit the dummy explanation if you need it.
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Trump is back in the news this weekend: