Josie Rozzelle is a CNBC digital rotational associate covering politics.
Shares of Trump Media fell to a new 52-week low Friday, closing down 7.82%, at $13.55 per share, just one day after “lockup” restrictions expired, which had previously prevented its majority shareholder, former President Donald Trump, and other early investors from selling their shares. Trading volume was heavier than average on Friday, with nearly 20 million shares changing hands before the closing bell.
” But even if insiders were not the ones selling, the company has said that a perception by the markets that a sell-off was underway might drive down DJT’s stock price. Trump, whose 114,750,000 share stake in Trump Media was worth $1.5 billion at Friday’s close, said last week that he would not sell his shares when the restrictions lifted. “I have absolutely no intention of selling,” he said at a press conference in California on Sept. 13.
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