Trump Media shares fall as lockup expires that would give the former president permission to sell stock

• Trump Media shares fell to their lowest levels since its IPO on Thursday.

• Shares fell as much as 4% as the lock-up period was about to expire.

• After the blockade, Trump can get rid of his shares, although he has said he would not sell them.

Shares of Trump Media & Technology Group fell to their lowest level since the company went public earlier this year as The blackout period preventing insider trading was about to expire.

Shares of parent company The Truth Social fell as much as 4% on Thursday, dropping as low as $14.77 before paring some losses.

The company went public in March, and its shares hit an all-time high above $70 shortly afterward before falling steadily in the following months.

The latest drop has been driven by investor concerns over a lock-up period preventing insiders from selling, which is set to expire as early as Thursday afternoon. CNBC reported.

Once the lockup period ends, the Republican presidential candidate will have the green light to start selling his shares. If he decides to do so, it could be a major hurdle for investors, given that Trump owns a nearly 60% stake in the company valued at $1 billion.1.7 billion according to Thursday's price.

Trump said last week he had no intention of selling stocks, briefly calming investors.

“No, I'm not selling. No, I love it,” the presidential candidate said at a news conference last Friday, triggering a 25% rally in DJT shares.

Read the original article at Business information