Trump Can Cash In His Slumping Stock Now, But He Promised Not to
- Former president can now capitalize on $1.5 billion stake
- Capitalizing on investment may be difficult for insiders
Donald Trump can finally turn his more than $1.5 billion stake in his media company into cash after restrictions preventing him from selling the stock expired Thursday. There are only two problems: Unloading the shares won’t be simple, and he already promised not to do it.
Trump Media & Technology Group Corp. stock is trading at the lowest price since its soaring debut on March 26, falling as much as 8.2% to $13.50 intraday Friday. Insiders in the company, which owns Trump’s social media outlet Truth Social and went public through a merger with a special purpose acquisition company, had been unable to sell their positions due to a post-offering lockup agreement. Now they can, although the stock’s more than 65% slide over the past two months wiped out upwards of $4 billion in value since mid-July.