SEC Chair Gensler dodges Trump Media campaign finance questions
Securities and Exchange Commission Chair Gary Gensler on Tuesday refused to comment on speculation of whether Trump Media is a funding organ for Donald Trump’s presidential campaign. “I’m not going to speak on any one company,” Gensler said in an interview on CNBC’s “Squawk Box,” responding to a question on whether Trump Media is merely a vehicle to finance the former president’s bid for a second term. “What’s important is that their disclosures are accurate and that folks aren’t in the market front-running or trading on insider information,” Gensler said. Since the DJT ticker went public on the Nasdaq on March 26, the stock has whipsawed, seeing a high of nearly $80 per share and a low of roughly $12 per share. The stock opened Tuesday at roughly $49. As the majority shareholder, Trump stands to gain the largest financial boost from DJT upswings. On Friday, Trump’s stake increased by 36 million more shares on top of his existing 78.8 million, due to a clause in the company’s contract that unlocks bonus shares as the …
