Trump Media closes at a new 52-week low, as Dow finishes week at record high
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.
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. The closing price for DJT took extra time to pinpoint, as high trading volume resulted in delayed settling.
But it will likely be several days before public filings with the U.S. Securities and Exchange Commission reveal whether this volume is due to early investors selling shares now that the lockup period is over, or merely a higher-than-average number of retail investors trading the stock.
The lockup agreement first took effect when Trump Media went public in March, following a merger with a blank-check firm called Digital World Acquisition Corp., or DWAC.
The company has acknowledged in regulatory filings that the end of the lockup could spur large sales of the company’s stock, which trades under the ticker “DJT.”
Rating: 5