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Trump Media shares slide with DJT sale restrictions set to lift
Womp, womp
Published Thu, Sep 19 20249:30 AM EDT
Updated 6 Min Ago
Kevin Breuninger
@KevinWilliamB
Key Points
* Shares of Trump Media fell at the opening bell.
* Former President Donald Trump is expected to soon be able to start selling his nearly $2 billion stake in the company, which trades as DJT on the Nasdaq.
* Trump and other early investors have been barred from selling their shares under a lockup agreement that took effect when the company went public in March.
Shares of Trump Media fell at the opening bell Thursday, with just hours to go until former President Donald Trump is expected to be able to start selling his nearly $2 billion stake.
The company, which owns social media platform Truth Social and trades as DJT on the Nasdaq, was down 5% at the market open.
Trump, the Republican presidential nominee, owns nearly 57% of DJT’s outstanding shares. That stake at Thursday morning’s price was worth about $1.7 billion — almost half of Trump’s estimated on-paper net worth.
...
Those restrictions are set to expire as soon as Thursday afternoon. Trump Media has acknowledged in regulatory filings that the end of the lockup could spur large sales of the company’s stock, and even the market’s perception of a sell-off could drive down DJT’s stock price.
...
Updated 6 Min Ago
Kevin Breuninger
@KevinWilliamB
Key Points
* Shares of Trump Media fell at the opening bell.
* Former President Donald Trump is expected to soon be able to start selling his nearly $2 billion stake in the company, which trades as DJT on the Nasdaq.
* Trump and other early investors have been barred from selling their shares under a lockup agreement that took effect when the company went public in March.
Shares of Trump Media fell at the opening bell Thursday, with just hours to go until former President Donald Trump is expected to be able to start selling his nearly $2 billion stake.
The company, which owns social media platform Truth Social and trades as DJT on the Nasdaq, was down 5% at the market open.
Trump, the Republican presidential nominee, owns nearly 57% of DJT’s outstanding shares. That stake at Thursday morning’s price was worth about $1.7 billion — almost half of Trump’s estimated on-paper net worth.
...
Those restrictions are set to expire as soon as Thursday afternoon. Trump Media has acknowledged in regulatory filings that the end of the lockup could spur large sales of the company’s stock, and even the market’s perception of a sell-off could drive down DJT’s stock price.
...
from CNBC https://www.cnbc.com/2024/09/19/djt-trump-media-stock-lockup.html
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