Shares of Trump Media, traded as DJT on the Nasdaq, hit their lowest price in over a year after Donald Trump and other company insiders were allowed to start selling their stakes in Truth Social maker. The stock dropped over 6% at the market open, marking the sixth straight day of declines. Since its public trading debut, Trump Media’s share price has fallen over 80%, with the market capitalization shrinking from $10 billion to about $2.5 billion.
Trump currently owns nearly 57% of the company’s outstanding shares, valued at less than $1.5 billion. After the lockup agreements expired, trading volume increased significantly, reaching over 14 million shares on Thursday and nearly 22 million on Friday. On Monday, within the first 90 minutes of trading, around seven million shares were exchanged.
While Trump stated he will not sell his stake in September, other early investors like ARC Global and United Atlantic Ventures have made no such promises. ARC may have increased its stake after a Delaware judge ruled that Trump Media breached an agreement with the sponsor and owes it more stock.
The market reactions have been volatile, with prices briefly shooting up after Trump’s announcement. The situation is evolving, and further updates are expected as the company and its major shareholders navigate the market challenges.
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