New York (AP) – When Donald Trump offered financial advice on Wednesday morning, the actions hesitated between gains and losses.
But it was about to change.
“It’s time to buy !!! DJT “,” He wrote on his social media platform Truth Social at 9:37 am
Less than four hours later, Trump announced a 90 -day break on almost all his prices. The shares have climbed on the news, closing 9.5% by the end of trading. The market, measured by the S&P 500, has recovered approximately 4 dollars, 70%, of the value it had lost during the four days of previous negotiations.
It was a premonitory call from the president. Maybe too premonitory.
“He loves this, this control over the markets, but he would better pay attention,” said Trump Critic and former lawyer for the White House ethics, Richard Painter, noting that the securities law prohibits negotiating initiate information or helping others do it. “The people who bought when they saw this position have made a lot of money.”
The question is: Trump was already considering the price break when he made this post?
Asked at the time he came to his decision, Trump gave a confused answer.
“I would say this morning,” he said. “In the past few days, I thought about it.”
He then added: “Quite early this morning”.
Asked for clarification on the calendar in an email at the White House later, a spokesperson did not respond directly but defended the post of Trump as part of his work.
“It is the responsibility of the President of the United States to reassure the markets and the Americans about its economic security in the face of the fear of non-stop media,” wrote the White House spokesman Kush Desai.
Another curiosity of the publication was the signaling of Trump with his initials.
DJT is also the symbol on the stock market of Trump Media and Technology Group, the parent company of the social media platform of President Truth Social.
It is not clear if Trump said the purchase of actions in general, or the Trump media in particular. The White House was requested, but did not approach this either. Trump understands “DJT” on his intermittent articles, usually to emphasize that he has personally written the message.
The ambiguity of what Trump meant did not prevent people from paying money in this stock.
Trump Media closed 22.67%, arrows twice as much as the larger market, an amazing performance of a company that has lost $ 400 million last year And is apparently not affected by the question of whether the prices would be imposed or interrupted.
The participation of 53% of Trump in the company, now in a trust controlled by his eldest son, Donald Trump Jr., increased by $ 415 million during the day.
Trump Media was beaten, although only two hundred percentage points, by another choice of Trump – Tesla of Elon Musk.
Last month, Trump held a Extraordinary press conference Outside the White House, praising the company and its cars. Which was followed by a Fox TV appearance By its commercial secretary urging viewers to buy the stock.
Tesla’s overvoltage on Wednesday added $ 20 billion to Musk’s fortune.
Kathleen Clark, government law expert at the Washington University School of Law, says that Trump’s post in other administrations would have been the subject of an investigation, but should probably not trigger a reaction, except for perhaps more social viewers of truth.
“He sends the message he can effectively and with impunity, manipulate the market,” she said, “as in: watch this space for future stock tips.”
