Trump Stock Hits Record Low As Lockup Period Hits End

Topline

Trump Media & Technology Group shares slid to another record low Thursday but recorded a closing price high enough to end the ban prohibiting former President Donald Trump from selling shares in the company—though he has said he does not intend to offload his stake in the social media firm.

Trump Media shares slid more than 3% in after-hours trading. (Photo by Spencer Platt/Getty Images)

Getty Images

Key Facts

Trump Media shares closed down nearly 6% on Thursday at $14.70 before dropping further in after-hours trading, marking its third-straight record low posted this week after opening Monday at $18.19.

The Truth Social parent company is down more than 8.5% in the past five days, continuing a long-running string of losses since mid July, when it traded at $40.58 per share.

However, the lockup period preventing Trump from selling any of his 60% stake in the company ended Thursday because the stock satisfied a requirement of closing above $12 per share for at least 20 out of 30 trading sessions beginning Aug. 20.

The former president vowed last week he would not sell shares of Trump Media, telling reporters, “I love it.”

Get Forbes Breaking News Text Alerts: We’re launching text message alerts so you’ll always know the biggest stories shaping the day’s headlines. Text “Alerts” to (201) 335-0739 or sign up here.

Surprising Fact

Trump Media is the Russell 1000 Index’s worst-performing stock since Aug. 5., according to Bespoke Investment Group.

Forbes Valuation

We estimate Trump’s net worth at $3.8 billion following a $106 million drop on Thursday. Trump owns 114.75 million shares of Trump Media.

Key Background

Trump Media’s public listing in March rocketed the former president’s net worth to a high of more than $8 billion and came with a lockup period preventing him from selling company shares for at least six months. Though the lockup period has ended, Trump will still have to comply with regulatory requirements and restrictions that would make a share selloff difficult if he changes his mind, according to Bloomberg, which cited Boston College law professor Brian Quinn. Trump Media’s shares peaked in March at $66.22 and have gone through several periods of volatility since then, contributing to surges and slides in Trump’s net worth as it has reached highs up to $8.2 billion and now sits below $4 billion.