Trump Is One Week Away from a Potential $2 Billion Cash Windfall
The article discusses a drop in the stock price of Trump Media & Technology, which fell 17% following a debate between Donald Trump and Vice President Kamala Harris. The decline is significant as Trump, who holds nearly 115 million shares, may be poised to sell some shares starting September 19 when a lockup provision expires. Despite the recent downturn, his shares, priced at $18.04 as of Tuesday, have an approximate value of $2 billion.
Trump Media, which operates the social media platform Truth Social, has faced financial difficulties, reporting a loss of $58.2 million last year with minimal revenue of $4.1 million. The stock has experienced volatility, primarily influenced by retail investors. Additionally, the article notes that pop star Taylor Swift endorsed Harris shortly after the debate, contributing to the political climate surrounding the stock’s performance.
s of Trump Media & Technology are down 17 percent in early trading Wednesday, following Tuesday night’s debate between Donald Trump and Vice President Kamala Harris.
The former president can start selling s of ’s parent company 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 s for six months.
Trump owns nearly 115 million s 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 s are worth approximately $2 billion.
The question remains if Trump will decide to sell any of his s.
The stock movement also comes after Taylor Swift endorsed Harris for president shortly after the debate ended.
Trump Media runs the social media platform , which Trump created. Based in Sarasota, Florida, the company has been losing money and struggling to raise revenue. It lost nearly $58.2 million last year while generating only $4.1 million in revenue, according to regulatory filings.
The stock has fluctuated for the past several months, with trading largely driven by individual investors.
The Western Journal has reviewed this Associated Press story and may have altered it prior to publication to ensure that it meets our editorial standards.
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