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shares Trump Media Monday sinks into their lowest price More than a year later and days after the majority stake holder Donald Trump and other company insiders were allowed to begin selling their shares in the company truth society manufacturer.
Stocks are traded as DJT exist NasdaqShares fell more than 6% at the open, putting the company on track for a sixth consecutive session of losses.
Trump Media (DJT) stock price
Since going public in late March, Trump Media’s stock price has fallen by more than 80%. As of Monday morning, the stock was at its lowest intraday level since July 2023.
Company market value breakthrough $10 billion It had shrunk to about $2.5 billion in March. Trump owns nearly 57% of the company’s outstanding shares, worth less than $1.5 billion as of 10:30 a.m. ET on Monday.
Trump and other company insiders are subject to a lock-up agreement that prohibits them from selling stock in Trump Media’s first few months as a public company.
Those restrictions expire at market close on Thursday.
Trading volumes accelerated significantly as the lock-up period was lifted. More than 14 million shares traded Thursday and nearly 22 million shares traded on Friday, well above the 30-day average of about 8.3 million shares.
In the first 90 minutes of trading on Monday, traders exchanged about 7 million shares.
Trump, a major attraction for Truth Social users and many retail investors in the company, said in early September that he would not sell his shares. Shares briefly rose after his speech.
Other early investors made no such commitment. These include ARC Global, the sponsor of Trump Media’s public blank-check company, and United Atlantic Ventures, an entity controlled by two former contestants on Trump’s reality show “The Apprentice.”
Trump Media said in a regulatory filing in early September that ARC and UAV own nearly 11% of DJT’s outstanding shares. But a Delaware judge ruled on September 16 that ARC’s stake could increase Trump media is undermined Make a deal with a sponsor and owe it more stock.
This is developing news. Please check back for updates.
