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Share from Trump Media sank on Friday to the lowest price in more than a year, a day after majority owner Donald Trump and other company insiders got the green light to start selling shares in operator Truth Social.
Stock, which appears as DJT Nasdaqdropped more than 6% in midday trading, putting the company on track for six consecutive days of decline.
Trump Media (DJT) stock price history
Trump Media’s stock price has fallen more than 80% since the company floated in its public trading debut in late March. The stock on Monday was at its lowest intraday level since early July 2023.
The company’s market capitalization, which crossed $10 billion in March, has shrunk to about $2.5 billion. Trump owns nearly 57% of the company’s outstanding shares, a stock worth nearly $1.5 billion as of midday Monday.
Trump and other company insiders are bound by a lockup agreement that prohibits them from selling stock in the first months after Trump Media goes public.
That limit expires at the closing bell Thursday.
Trading volume accelerated significantly when the lockup was lifted. More than 14 million shares changed hands on Thursday and nearly 22 million traded on Friday, far exceeding the 30-day average volume of about 8.3 million shares.
In the first 90 minutes of trading Monday, traders exchanged about seven million shares.
Trump, a major draw for Truth Social users and many retail investors in the company, said in early September that he would not sell his shares. Share prices briefly rose after his remarks.
Other early investors did not make such promises. These include ARC Global, the blank check corporate sponsor that took Trump Media public, and United Atlantic Ventures, an entity controlled by two former contestants on Trump’s reality show “The Apprentice.”
ARC and UAV own nearly 11% of DJT’s outstanding shares, Trump Media said in a regulatory filing in early September. But ARC shares could rise after a Delaware judge ruled on September 16 that Trump Media violated an agreement with sponsors and owes more.
This expands the news. Please check back for updates.
