Shares of Trump Media & Technology Group fell by as much as 4% on Thursday before recovering somewhat toward the close of trading.
Shares of Trump Media plunged to a new low Thursday — the day that former President Donald Trump and other major investors were finally allowed to sell their shares in the parent company of social media platform Truth Social.
The company closed down nearly 6%, at $14.70, as the six-month lockup period preventing insiders from selling the stock expired after Trump Media merged with blank-check company Digital World Acquisition Corp to take it public.
Trump, the majority owner with a 57% stake now valued at around $1.
