Trump Media shares hit new lows after DJT ban lifted | Wilnesh News

shares Trump Media Shares of the company fell to their lowest level in more than a year on Monday, days after major shareholder Donald Trump and other company insiders were given approval to begin selling their stakes in the maker of Truth Social.

The stock trades on DJT NasdaqShares fell more than 6% at the open, putting the company on track for a sixth consecutive session of losses.

Since going public in late March, Trump Media’s stock price has fallen by more than 80%. As of Monday morning, the stock was at its lowest intraday level since July 2023.

Company market value breakthrough $10 billion It had shrunk to about $2.5 billion in March. Trump owns nearly 57% of the company’s outstanding shares, which were worth less than $1.5 billion as of 10:30 a.m. ET on Monday.

Trump and other company insiders are subject to a lock-up agreement that prohibits them from selling stock in Trump Media in the first few months after it went public.

Those restrictions expire at market close on Thursday.

Trading volumes accelerated significantly as the lock-up period was lifted. More than 14 million shares traded Thursday and nearly 22 million shares traded on Friday, well above the 30-day average of about 8.3 million shares.

In the first 90 minutes of trading on Monday, traders exchanged about 7 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. Shares briefly rose after his speech.

Other early investors made no such commitment. These include ARC Global, the sponsor of Trump Media’s public blank-check company, and United Atlantic Ventures, an entity controlled by two former contestants on Trump’s reality show “The Apprentice.”

Trump Media said in a regulatory filing in early September that ARC and UAV held nearly 11% of DJT’s outstanding shares. But ARC’s stake may have increased after a Delaware judge ruled on Sept. 16 that Trump Media breached an agreement with its sponsor and owed it more stock.

This is developing news. Please check back for updates.