President-elect Donald Trump’s social media stocks rebounded dramatically after a post on Truth Social, reportedly adding half a billion dollars to his net worth.

Following a 42% drop from Wednesday’s peak, shares of Trump Media and Technology Group jumped nearly 15% following his statement that he had no plans to sell his stake in the company, contradicting reports rumors of its potential release. according to at CNN. Trump’s message stabilized the situation actionVolatile performance.

“There are false, untrue and possibly illegal rumors and/or statements, perhaps made by market manipulators or short sellers, that I am interested in selling shares of Truth. THESE RUMORS OR STATEMENTS ARE FALSE. I HAVE NO INTENTION TO SELL! Asset wrote.

As the largest shareholder, Trump’s stake of 114.75 million shares soared in value to about $3.7 billion, up from $3.2 billion at the start of trading Friday, reported CNN. Despite the company’s tumultuous week, this increase ensured a modest weekly gain of 4.4%.

Asset Media reports have shown extreme fluctuations since their public debut in March, often reflecting the ebb and flow of Trump’s political fortunes rather than his business fundamentals, the outlet reported. In fact, the stock had quadrupled in the weeks preceding the elections, only to fall by 41% in the following days.

Unlike major players like X, TikTok and Instagram, Social truth remains a minor entity, reporting less than $1 million in revenue last quarter and struggling with financial challenges, CNN said. Still, Trump’s recent communication has reassured investors of his continued involvement in the company, which is crucial given that its valuation largely depends on his active participation.

(Featured Image Media Credit: Screenshot/CSPAN)