Shares of Trump Media and Technology Group slid in midday trading Friday after President-elect Donald Trump transferred all of his shares into a revocable trust, according to a regulatory filing
FILE - Republican presidential nominee former President Donald Trump is pictured at an election night watch party, Wednesday, Nov. 6, 2024, in West Palm Beach, Fla. .
It's not clear why Trump transferred the stock. Donald Trump Jr. is the sole trustee and has sole voting and investment power over all securities owned by the trust. Trump Media shares have been extremely volatile since the company began trading in March. They reached intraday highs close to $80 on the first day of trading, then slumped to all-time lows in September when Trump and other insiders were finally allowed to sell shares after standard lock-up agreements expired. Trump has not sold any shares in the company.
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