Republican presidential candidate and former U.S. President Donald Trump looks on during a rally at the Nassau Veterans Memorial Coliseum in Uniondale, New York, the United States, on September 18, 2024.
Brendan McDermid | Reuters
shares Trump Media It fell more than 7% on Friday morning and hit a new 52-week low a day later “Lock” restrictions Expiredhad previously blocked its major shareholder and former president Donald Trumpand other early investors selling their shares.
Trading volume was above average Friday morning, but it could be days before public SEC filings reveal whether the volume was due to early investors selling shares after the lockup period ended, or simply high The average number of retail investors trading the stock.
The lock-up agreement first went into effect when Trump Media went public in March after merging with a blank-check company.
The company acknowledged in a regulatory filing that the end of the lockup period could spur a massive sell-off in the company’s stock, which trades under the symbol “DJT.”
But even without insider selling, the company said the market’s sense that a sell-off is underway could depress DJT’s stock price.
This is a developing story, please check back for updates.
—CNBC’s Kevin Breuninger contributed reporting.
