Trump Media & Technology fell Monday to yet another record low, continuing to tumble as selling restrictions on former President Donald Trump and other insiders ended Friday.
On Sept. 13, Donald Trump posted on Trump Media's Truth Social that he wouldn't sell DJT stock when the lockup expired. That lifted shares by 12% that day, but the selling quickly resumed. Trump owns a majority of DJT stock.
Insider Sales Disclosures Tuesday
While Friday was the first day for insiders to sell, Tuesday will be when the general public learns of whether any such sales took place. Insiders are required by securities law to disclose sales within two business days, which means Friday sales must be disclosed by late Tuesday.
Any insider sales on Monday must be disclosed by late Wednesday, and so on.
DJT Stock
Trump Media stock sold off 10.3% to 12.15 on Monday. Shares plunged 8% on Friday and 24.6% last week.
DJT stock began trading on March 26, as Trump Media came public via a SPAC merger with Digital World Acquisition. Even including the pre-SPAC DWAC trading, Trump Media set its lowest price since Oct. 21, 2021, the day after DWAC and Trump Media to combine..
Trump Media has scant revenue, reporting roughly $800,000 in each of the last three quarters, along with ongoing losses.
DJT stock has traded at times as a sentiment indicator about Donald Trump's political campaign.
DJT stock hit a recent high of 46.27 on July 12, just after the first Trump assassination attempt, with the former president showing a commanding lead over President Biden, who later dropped out in favor of Vice President Kamala Harris.
Prediction markets now favor Harris, as well as some national polls. But key swing states remain extremely tight.
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