Trump criticizes Nasdaq for implementing a standard trading pause on Truth Social, his social media platform.
"Why is NASDAQ stopping the trading of DJT?" queries Trump on Truth Social, mentioning the ticker symbol of Trump Media & Technology Group, which owns Truth Social. "What gives them the authority to do this? They've done it twice today. What's going on?"
Trump hints at NASDAQ taking orders from the SEC, an organization he alleges is stalling Trump Media's merger due to political motives.
Friday saw a significant surge in Trump Media's stock, which is traded on the Nasdaq Composite, following Trump's announcement of not selling shares in the company.
This escalation was so substantial that it provoked two five-minute trading stops meant to offer a cooling period.
Such trading halts are commonplace and occur frequently for various stocks across the day.
For Trump Media (DJT), the initial halt took place at 2:26 p.m. ET and was terminated at 2:31 p.m. ET, according to NASDAQ's site. This halt occurred just minutes after Trump announced during a news conference his decision to "not sell" shares in the company, causing the stock to surge 25%.
Trading resumed before the stock was halted again at 2:34 p.m. ET for an additional five-minute halt.
NASDAQ explained that the halts were prompted by the limit up-limit down rules, designed to "defend investors and promote the public interest."
Despite the seemingly run-of-the-mill nature of the situation, Trump threatened retaliation against NASDAQ.
"I am going to make NASDAQ, and perhaps the SEC, accountable for their conduct," he wrote on Truth Social. "If they do it again, we will transfer the stock to the New York Stock Exchange."
NASDAQ did not reply to CNN's request for comment.
The first media outlets picked up Trump's threats towards NASDAQ and the SEC, sparking discussions about the potential impact on business relations between the two entities.
Given the volatile nature of the situation, some financial analysts are suggesting that this could lead to a shift in the media's portrayal of Trump Media & Technology Group, which is a significant player in the digital media business.
