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shares Trump Media Shares closed down 6.6% on Tuesday at $16.14 per share. The drop occurred 48 hours ago”“Lock” restriction The company’s major shareholders have so far been excluded, Donald Trumpand other rules on insiders selling their holdings are about to expire.
Until this week, the former president and early investor was offered stock in the company it merges March partners with special purpose acquisition companies Start public trading is prohibited from selling its shares under a “lock-up agreement.”
Those restrictions expire Thursday.
Trump said last week He won’t sell He holds 114,750,000 shares truth society owner. As of Tuesday’s close, Trump’s stake was worth more than $1.8 billion.
“I have absolutely no intention of selling,” Trump said at a news conference in California on Friday.
After Trump announced the news, the stock price rose 25% and closed up 11% on Friday.
But Trump Media’s losses so far this week have erased those gains.
The stock closed lower Shares were up nearly 4% on Monday, following a weekend in which Trump was an obvious target. second assassination attempt.
United States Secret Service On Sunday, Trump opened fire on a man armed with a semiautomatic rifle outside Trump Golf Club in Florida. republican party The nominees are playing golf.
The man is 58 years old Ryan Wesley Rousewas arrested after fleeing the scene. He was charged Monday with two federal firearms offenses.
Weekend threats to Trump had opposite impact on Trump media stocks than stock reaction to Trump first assassination attempt July on Trump. On July 15, the first trading day after the attempt, Trump Media’s stock price Closed up more than 30%.
A Delaware judge also ruled Monday that Trump’s media breach of agreement Working with ARC Global, an early investor who helped take the company public.
Vice Chancellor Lori Weir identifies shell companies Digital World Acquisition Company. ARC Global underestimated the number of shares ARC Global was entitled to after Trump Media went public.
Shares of Trump Media fell on Tuesday, with losses accelerating shortly after 3 p.m. ET, leaving the stock just a few cents above its share price. lowest closing price since its listing on Nasdaq.
The stock is now down 60% from its recent highs, which followed the first assassination attempt at a Trump rally in Butler, Pennsylvania, in July. The stock is down 75% from its post-merger high in March.
As of Tuesday’s close, Trump Media’s market value was $3.2 billion.
