Sep 20, 2024 - Business
Trump now allowed to sell stock in struggling Truth Social
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Former President Trump is now free to sell shares in the parent company of Truth Social, as a stock lockup provision expired after Thursday's market close, although last week he pledged that he wouldn't.
Catch up quick: Trump and some other insiders had been prohibited from selling for six months after Truth Social's parent company went public via a blank-check company.
By the numbers: Trump holds around 115 million shares in Trump Media & Technology Group, which traded at nearly $80 earlier this year.
- Its price has since fallen by more than 80%, bringing the value of Trump's shares to $1.61 billion as of Friday's market open.
- The company reported large losses and just $1.6 million in revenue for the first since months of 2024.
