Trump touted Palantir on Truth Social after buying the stock
Newly disclosed records show President Donald Trump purchased between $630,000 and $247,008 worth of Palantir stock during the first quarter and sold at least $1.1 million in holdings of the data analytics firm. He also promoted the company on his Truth Social platform during the same period. Democrats say a sitting president holding and touting a federal contractor's shares raises significant ethics concerns.
Newly released first-quarter financial disclosures show President Donald Trump bought between $630,000 and $247,008 worth of Palantir Technologies shares during the first three months of the year and then sold at least $1.1 million in holdings. The records also confirm that the White House occupant repeatedly praised the company on his personal Truth Social account during the same window.
Palantir is a data analytics firm that holds substantial federal contracts with the US military, intelligence agencies and immigration services. Democratic senators say a sitting president holding shares in a federal contractor and steering investor attention to the stock warrants formal ethics scrutiny.
The White House said the trades were executed by advisers who manage the president's assets and that Mr Trump did not personally select the holdings. Congressional Democrats said they will refer the matter to the Office of Government Ethics and the Securities and Exchange Commission in the coming weeks. Palantir shares opened with modest volatility after the disclosure.
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