Former President Donald Trump recently made a series of puzzling statements regarding the New York Stock Exchange NYSE during a press conference, where he discussed his decision not to list the Trump Media & Technology Group on the exchange. Trump asserted that the NYSE was eager to list his company but cited concerns about being mistreated in New York as the reason for choosing not to go public on the exchange. However, a closer examination reveals significant inaccuracies in Trump’s narrative.
Trump’s assertion that he decided against listing his company on the NYSE due to concerns about being mistreated in New York is fundamentally flawed. The truth is that the Trump Media & Technology Group is set to be listed on the Nasdaq, another major stock exchange headquartered in New York City. Both the NYSE and Nasdaq operate under the same regulatory framework and are subject to the same New York laws and political oversight. Therefore, any concerns about mistreatment or political persecution in New York would apply equally to both exchanges.
Legal experts and financial analysts have criticized Trump’s claims as “mind-bogglingly nonsensical.” Jonathan Macey, a professor of corporate law and securities law at Yale Law School, likened Trump’s rationale to someone claiming they would avoid persecution in New York by shopping at a different department store in the same city. The absurdity of Trump’s assertion underscores its lack of credibility.
Moreover, Trump’s account of a conversation with a supposed NYSE official has also raised eyebrows. Trump claimed that the “top person” at the NYSE expressed dismay over his decision not to list the company on the exchange, citing concerns about businesses avoiding New York. However, Trump’s characterization of the NYSE official as a “he” contradicts the fact that the current and former presidents of the NYSE are both women. Additionally, the NYSE declined to comment on Trump’s version of events but emphasized its openness to listing Trump’s company on the exchange.
In reality, Trump’s decision to list the Trump Media & Technology Group on the Nasdaq rather than the NYSE likely reflects strategic considerations rather than concerns about mistreatment in New York. The company, which owns the Truth Social platform, is scheduled to begin trading on the Nasdaq on Tuesday, signaling its confidence in the exchange as a reputable platform for public listings.
As Trump continues to navigate legal challenges and political controversies, his recent comments about the NYSE serve as a reminder of the importance of fact-checking and scrutinizing statements made by public figures. In this case, Trump’s narrative unravels under closer examination, highlighting the need for accuracy and accountability in public discourse.