Trump family investments propel Salem Media stock surge
The Trump family has invested in Salem Media Group, prompting a sharp surge in the media company's stock value. Donald Trump Jr. and Lara Trump have become new shareholders, contributing to a 354% stock price increase in just one day, reports "Bloomberg."
The value of Salem Media Group's shares rose substantially after Donald Trump Jr. (Trump’s son from his first marriage to Ivana) and the president's daughter-in-law Lara Trump (wife of Eric, Trump's third child with Ivana) became shareholders. According to Bloomberg, the stock price in the after-hours peak on Tuesday (15th April) reached $2,09 (€1,84), reflecting a 354% increase compared to the previous day. The Trump family is known for its involvement in low-liquidity companies.
"According to the report, Salem Media Group’s low-liquidity stocks saw a surge in volatility and hit record trading volumes, with more than 2 million shares traded—up sharply from just 4,100 the previous day.
Salem Media Group is an American holding company targeting Christian and conservative audiences. It includes radio stations and online resources. The company is also known for publishing books and providing commentary on current events. After the Trump investment, the company's market value neared $10 million (£8,7 million).
This is not the first time the Trump family has invested in low-liquidity companies. Previously, Donald Trump Jr. became involved with Unusual Machines, a drone manufacturing company, and PSQ Holdings, a market operator for conservative-minded companies. These actions often result in sharp increases in stock values, which can just as quickly decline afterwards.
Accusations against Trump
The American opposition accuses Donald Trump of market manipulation. According to Democrats, there was a leak of information from the White House on 9th April, which led to stock market surges when the president announced a 90-day tariff suspension.
Six leading Democratic Party senators – including Elizabeth Warren, Chuck Schumer, Ron Wyden, and Adam Schiff – sent a letter on 11th April to the U.S. Securities and Exchange Commission (SEC). The politicians are demanding an investigation into the potential use of public information for market manipulation by individuals connected to the Trump administration and the president's family. The senators suggested that certain individuals may have had advance knowledge of the U.S. president’s plan to announce a suspension of tariffs, anticipating that this would lead to a market upturn.
