Trump Media stock closes at new postmerger low on eve of ‘lockup’ expiration

Trump Media stock closes at new postmerger low on eve of ‘lockup’ expiration


Republican presidential nominee and former U.S. President Donald Trump looks down on the day he attends a press conference at Trump National Golf Club in Rancho Palos Verdes, California, on Sept. 13, 2024.

David Swanson | Reuters

Shares of Trump Media closed Wednesday at a new postmerger low on the eve of the expiration of “lockup” restrictions that have barred Truth Social owners’ insiders, such as majority shareholder Donald Trump, from selling their stakes.

Trump Media stock fell 3.22% on relatively light trading, to close at $15.62 a share. At Wednesday’s closing stock price, the company had a market capitalization of $3.126 billion.

Trump Media made its market debut on the Nasdaq in late March after a merger with a special purpose acquisition company.

Trump and others who received stock in the company before it went public were not allowed to sell any of these shares for approximately 180 days, under the common initial public offering provision called a lockup agreement.

For Trump Media, the lockup period expires Thursday.

Last week, shares shot up as much as 25% after the Republican presidential nominee said he had “absolutely no intention of selling” any of his nearly 57% stake in Trump Media.

The stock ultimately closed up 11% on Friday. But since then, it has been on a steady decline.

At Wednesday’s closing stock price, Trump’s stake in the company was worth roughly $1.8 billion. On paper, this amounted to nearly half of Trump’s personal net worth of $3.9 billion, as tallied by Forbes.

Shares of Trump Media closed down more than 6% on Tuesday, the day after a Delaware judge ruled that Trump Media has breached a contract with an early investor that helped the company go public.

The judge ruled that Trump Media must grant the investor, ARC Global, with a larger share of its stock than it had previously intended. ARC Global currently holds a 4.77% stake in Trump Media, which it would likely be free to sell once the lockup expires Thursday.

Shares fell Monday as well, closing the day nearly 4% down, one day after Trump was the target of an apparent second assassination attempt.

The downward move Monday contrasted with the stock’s jump on July 15, the first trading day after Trump survived an assassination attempt. Trump Media shares shot up more than 30% that Monday.

Shares are now down more than 61.66% since the July assassination attempt, which was also their most-recent high. The stock is down 76.5% overall since the merger in March.

Don’t miss these insights from CNBC PRO



Source

Damning IAEA report spells out past secret nuclear activities in Iran
Politics

Damning IAEA report spells out past secret nuclear activities in Iran

A picture taken on November 10, 2019, shows an Iranian flag in Iran’s Bushehr nuclear power plant, during an official ceremony to kick-start works on a second reactor at the facility. ATTA KENARE | AFP via Getty Images Iran carried out secret nuclear activities with material not declared to the U.N. nuclear watchdog at three […]

Read More
PBS sues Trump over executive order to cut funding
Politics

PBS sues Trump over executive order to cut funding

The Public Broadcasting Service on Friday sued President Donald Trump to block his attempt to cut off its federal funding, and accused the president of retaliating against the public broadcaster over “perceived political slights in news coverage.” Trump’s executive order targeting PBS’ funding “will upend public television,” lawyers for the broadcaster behind “Mister Rogers’ Neighborhood” […]

Read More
Elon Musk deflects question about report of drug use, family drama as Trump looks on
Politics

Elon Musk deflects question about report of drug use, family drama as Trump looks on

Tesla CEO Elon Musk speaks alongside U.S. President Donald Trump to reporters in the Oval Office of the White House on May 30, 2025 in Washington, DC. Kevin Dietsch | Getty Images Tesla CEO Elon Musk on Friday deflected a reporter’s effort to ask the mega-billionaire about a New York Times article detailing his alleged […]

Read More