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Stock Trump Media On Monday, days after Donald Trump and other company insiders who own shares in Truth Social were given permission to begin selling, the company’s shares fell to their lowest price in more than a year.
The stock is trading as DJT. NasdaqThe stock fell more than 6% at the market open, snapping a sixth straight day of declines.
Trump Media (DJT) Stock Price
Trump Media shares have fallen more than 80% since soaring in their public offering debut in late March. As of Monday morning, shares were at their lowest intraday trading level since July 2023.
The company’s market capitalization is $10 billion The company’s market capitalization, which was announced in March, has shrunk to about $2.5 billion. Trump owns about 57% of the company’s outstanding shares, and as of 10:30 a.m. ET on Monday, the company’s market capitalization was less than $1.5 billion.
Trump and other people associated with the company were bound by lockup agreements that prohibited them from selling their shares in Trump Media during the first few months after the company went public.
Those restrictions ended at the close of trading on Thursday.
Trading volume increased significantly following the lifting of the lockup. More than 14 million shares traded hands on Thursday, and about 22 million shares traded hands on Friday, both well above the 30-day average volume of about 8.3 million shares.
Within the first 90 minutes of trading on Monday, traders exchanged about 7 million shares.
Trump, a major attraction for Truth Social’s users and many of the company’s individual investors, said in early September that he had no plans to sell his shares, sending the stock soaring briefly after he made the remarks.
Other early investors have made no such commitments, including ARC Global, the blank-check company sponsor that took Trump Media public, and United Atlantic Ventures, run 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 own about 11% of DJT’s outstanding shares, but ARC’s holdings may have increased after a Delaware court ruled on Sept. 16 that Trump Media breached contracts with sponsors and owed them more stock.
This is an evolving story, please check back for updates.
