Donald Trump is the majority owner of Trump Media, which owns social media platform Truth Social and trades as DJT on the Nasdaq.
The slump worsened days after majority owner Donald Trump and other company insiders got the green light to start selling their stakes in the Truth Social maker.Trump Media's share price has fallen more than 80% since the company surged in its public trading debut in late March. The stock as of Monday was at its lowest intraday level since June 2023.in March, has shrunk to about $2.5 billion. Trump owns nearly 57% of the company's outstanding shares, a stake worth nearly $1.
Trading volume accelerated significantly as the lockup lifted. More than 14 million shares changed hands on Thursday and nearly 22 million were exchanged Friday, far exceeding the 30-day average volume of about 8.3 million shares.
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