Shares of Donald Trump’s media company fell to a new low on Friday morning as a ban on insiders selling their shares expired, extending this week’s sharp losses.
Restrictions on insider sales of Trump Media & Technology Group Corp (NASDAQ:DJT) shares expired after Thursday’s market close.
Only about a third of the Truth Social parent is available for trading as former president Trump holds a roughly 60% stake, meaning any insider share sale would have a significant impact on the stock.
Trump said last week he has “absolutely no intention” of selling his stake.
“I’m not leaving… I think it’s great,” he said, per a Reuters report.
The value of Trump’s stake has dropped from about $6 billion at the company’s all-time high to about $1.6 billion on Friday.
Trump Media shares are down about 82.5% at $13.85 from their all-time high of $79.38 on March 25.