Trump closing in on being able to sell his shares of Truth Social's parent company. But will he?
Donald Trump has more than last night’s debate with Vice President Kamala Harris on his mind
Shares of Trump Media & Technology fell more than 10% Wednesday following last night’s debate between Donald Trump and Vice President Kamala Harris.
The former president can start selling shares of Truth Social's parent company next week starting on Sept. 19 when a lockup provision ends, if he chooses to do so. That's because the lockup provision prevented company insiders from selling newly issued shares for six months.
Trump owns nearly 115 million shares of the company, according to a recent filing with the Securities and Exchange Commission. Based on Tuesday's closing price of $18.04, Trump's shares are worth approximately $2 billion.
The question remains if Trump will decide to sell any of his shares. Even though he’d be certain to receive a sizeable payout, the stock is now worth considerably less than it was valued at several months ago. When Truth Social & Technology Group Corp. made its debut on the Nasdaq in March, it hit a high of $79.38.
