Republican presidential candidate and former U.S. President Donald Trump looks frustrated during a news conference at Trump National Golf Club in Rancho Palos Verdes, California, September 13, 2024 .
David Swanson | Reuters
shares Trump Media Wednesday’s closing price hit a new post-merger low, just before the expiration of “lockup” restrictions that bar insiders, such as major shareholders, of Truth Social’s owners Donald Trumpby selling shares.
Due to relatively light trading, Trump Media’s stock price fell 3.22% to close at $15.62 per share. Based on Wednesday’s closing price, the company’s market value was $3.126 billion.
Trump Media listed on Nasdaq at the end of March after merging with a special purpose acquisition company.
Under common IPO terms called lock-up agreements, Trump and others who acquired shares in the company before it went public were barred from selling any of those shares for about 180 days.
For Trump Media, the blackout period expires on Thursday.
Shares soared 25% last week after the Republican presidential candidate said “he has.”Absolutely no intention to sell“He owns nearly 57% of Trump Media.
The stock ultimately closed up 11% on Friday. But it has been steadily declining since then.
Based on Wednesday’s closing stock price, Trump’s stake in the company is worth about $1.8 billion. According to statistics, on paper, this is equivalent to nearly half of Trump’s personal net worth of $3.9 billion. Forbes.
Trump Media Stocks Close down On Tuesday, a Delaware judge ruled that Trump Media had breach of contract Partner with early investors who helped take the company public.
A judge ruled that Trump Media must grant investor ARC Global a larger share of stock than it had previously expected. ARC Global currently holds a 4.77% stake in Trump Media, which may be free to sell once the lockup expires on Thursday.
Shares also fell on Monday, closing nearly 4% lower, a day after Trump was apparently the target of a second assassination attempt.
Monday’s decline contrasted with the stock’s gains on July 15, the first trading day after Trump’s death. assassination attemptOn Monday, Trump Media shares soared more than 30%.
The stock is now down more than 61.66% since the July assassination, which was also its recent high. Since the merger in March, the stock has fallen 76.5% overall.
