Key points
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Shares of Truth Social's parent company fell Thursday, extending the latest round of stock declines.
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The stock was trading as high as $70 shortly after it went public through a merger with a blank-check company in March. It is now trading at around $15.
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Investors' attention this week has focused on the long-awaited end of a blackout period for former President Trump and other insiders.
Shares of Truth Social's parent company fell Thursday, extending the latest round of declines for Trump Media & Technology Group (DJT) since it took its current form at the end of March.
Shares traded as high as $70 shortly afterward. Its public listing Through a merger with a Blank Check Company in March, but shares have been on a relatively steady downward path since then.
They rose after former President Donald Trump's June debate with President Joe Biden and An attempted murder in July Meanwhile, the replacement of Biden by Vice President Kamala Harris on the Democratic ticket and the first debate between Harris and Trump have weighed on stocks. Shares closed Thursday at just under $15.
Trump denies intention to sell DJT shares
This week, investors' attention has focused on another event: the long-awaited end of a blocking period That has prevented Trump, a company director and other insiders from selling their shares. Trump owned nearly 60% of the company's outstanding shares, according to an August filing with regulators.
Last week, Trump said in a statement that he supported DJT’s stock. “It is my intention to own this stock for a long period of time,” he wrote on Truth Social on Friday. And in a televised interview that same day, he said, “I don’t want to sell my stock. I’m not going to sell my stock.”
DJT shares have been falling steadily this week, closing down nearly 6% on Thursday.
Read the original article at Investopedia.
