Trump family investment sends Salem Media stock skyrocketing
The Trump family has invested in Salem Media Group, which led to a sharp increase in the media company's stock value. Donald Trump Jr. and Lara Trump have become new shareholders, contributing to a 354.34% increase in the stock price in just one day, reports "Bloomberg."
The value of Salem Media Group's stocks increased significantly 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) joined the shareholders. According to Bloomberg, the stock price peaked in after-hours trading on Tuesday (April 15), reaching $2.09, marking an increase of 354.34% compared to the previous day. The Trump family is known for engaging 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 that focuses on Christian and conservative audiences. It includes radio stations and online resources. The company is also known for publishing books and offering commentary on current events. After the Trump investment, the company's market value approached $10 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 businesses. These actions often lead to sharp increases in stock values, which can just as quickly plummet later.
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 April 9, which led to stock market jumps when the president announced a 90-day tariff suspension.
Six leading Democratic Senators—including Elizabeth Warren, Chuck Schumer, Ron Wyden, and Adam Schiff—sent a letter to the U.S. Securities and Exchange Commission (SEC) on April 11. The politicians are demanding an investigation into the potential use of non-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.
