Trump Media hit a record low Friday with insiders allowed to sell DJT stock. Former President Donald Trump, who owns a majority, says he won't sell.
Until now, a lock-up period has barred inside investors from selling shares.
The six-month lockup period was put in place after Trump Media consummated its merger with a blank-check company.
Trump Media & Technology Group shares slid to another record low Thursday but recorded a closing price high enough to end the ban prohibiting former President Donald Trump from selling shares in the company—though he has said he does not intend to offload his stake in the social media firm.
Shares of Truth Social's parent company fell Thursday, extending the latest round of declines for Trump Media & Technology Group (DJT) since it took its current form in late March.
Short selling of DJT stock has risen ahead of the lockup expiration on insider sales on Friday.
While former U.S. President Donald Trump has said he will not sell his $1.7 billion stake in Trump Media after restrictions likely expire on Thursday, other insiders could soon cash in their gains.
Search for "Trump Media stock" and a flood of negative articles appear. The writers see little hope, and many say Donald Trump is going to sell despite his press conference assurance to hold his 115 million shares.
A media company that Ex-President Donald Trump co-founded passed its lockup expiration on Thursday.
Shares of Trump Media fell at the opening bell.
Trump and other insider investors will be able to sell shares as a lock-up period expires.
Yes, Trump Media stock has serious negatives. The top issue is the expected selloff when the "great unlocking" (of currently unsalable shares) occurs this Friday (Sept.