Trump's Outburst Against Nasdaq Following Truth Social Trading Halt
Trump Takes Aim at Nasdaq Over Trading Halts
Former President Donald Trump is at the center of controversy following a trading halt on the Nasdaq regarding shares of his social media venture, Truth Social. Trump took to Truth Social to express his outrage, questioning the legitimacy of the halts and suggesting a shift to the New York Stock Exchange.
What Triggered the Trading Halts?
On a volatile trading day, shares of Trump Media & Technology Group, which owns Truth Social, spiked significantly after Trump declared he would not sell his shares. This surge led to two brief trading pauses intended to stabilize the market.
- First Halt: 2:26 PM ET - Lasted until 2:31 PM ET
- Second Halt: 2:34 PM ET - Another five-minute pause followed
According to Nasdaq, these halts are standard practice and implemented to ensure fairness and protect investors. Market structure expert Joe Saluzzi emphasized that such pauses are governed by SEC rules, which apply universally across exchanges.
Trump's Response and Implications
Despite the routine nature of these trading halts, Trump voiced strong disapproval, claiming he might hold Nasdaq accountable and threatening to transfer his stock to NYSE. His reaction raises important considerations regarding market behavior and investor sentiment.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.