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 The company’s shares fell more than 7% on Friday morning, hitting a 52-week low one day after the expiration of “lock-up” restrictions that had prevented its top shareholder, former President Donald Trump, and other early investors from selling their shares. .
Trading volume was above average on 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 if it’s not 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.
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