Trump Media lockup deadline leaves Trump with a choice: trigger a fire sale or hold a meme stock

Presidents can move entire markets with a single sentence. Donald Trump, a former president, sent a single stock soaring with just three words: “I’m not selling,” he pronounced at a press conference on Sept. 13, when asked whether he would offload the millions of shares he owns in his social media company. Buoyed by this declaration of faith from its largest shareholder, the stock shot up 27% to $20.76, before closing the day at $17.97.

Cordell Eminent Scholar Jay Ritter shares his insights in this story from Fortune. [Subscription required.]