Former President Trump made claims about avoiding listing his new company on the New York Stock Exchange due to perceived political persecution in New York.
Trump claimed that “the people at the stock exchange are very, very upset” that he didn’t list on the NYSE and that “the top person is mortified, can’t believe it.”
“He said, ‘I’m losing business because of New York – because people don’t want to be in New York and they don’t want to go on the New York Stock Exchange.’ So you can ask them about it,” Trump said.
However, his story made no sense, as the Nasdaq exchange it will actually list on is also headquartered in New York and subject to the same laws and oversight.
Experts said claiming to avoid New York by listing on Nasdaq instead was nonsensical.
“It’s just mind-bogglingly nonsensical,” Yale Law School professor Jonathan Macey said.
“I hope somebody advising President Trump informs him that the same investor protection rules that safeguard investors of the New York Stock Exchange also safeguard investors on the Nasdaq Stock Market,” Macey said.
“America’s capital markets are the envy of the world and investors benefit from more, not fewer, companies listed on public exchanges. New York should be open for business for all types of capital formation. With regard to Digital World Acquisition Corp. and Trump Media and Technology Group, the U.S. Securities and Exchange Commission has declared their business combination effective and we would welcome the company for listing on the New York Stock Exchange,” an NYSE spokesperson said.
Trump also repeated unfounded claims that the criminal and civil cases against him in New York were “all Biden-run things” and a Biden appointee was “put into” the Manhattan DA’s office, but there is no evidence Biden has been involved in the cases led by elected New York officials against Trump.
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