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Quoted By:
https://fortune.com/2024/09/05/donald-trump-truth-social-tmtg-stock-price/
Donald Trump is nearing the day he can cash out of Truth Social’s parent company, raising concerns of a potential sell-off that could hit the meme stock hard.
On paper, Trump’s stake in Trump Media and Technology Group (TMTG) is valued at $1.95 billion, which could help cover his mounting legal fines.
However, when he agreed to a reverse merger with Digital World Acquisition Company (DWAC) on March 25, he accepted a six-month lockup period, preventing him from selling his 115 million shares.
Trump owns 59% of TMTG, and any sale could tank the stock unless done in small batches.
With the lockup expiring in three weeks, investors are growing anxious.
Trump’s financial situation appears strained—he’s been selling Trump-themed sneakers, “God Bless the USA” Bibles, and now offering a piece of the suit he wore during his first debate with Joe Biden to collectors who purchase $1,500 worth of digital Trump trading cards.
On Wednesday, TMTG shares fell 6%, closing just below $17. This wipes out all gains for the year, while the S&P 500 has risen 16% over the same period.
TMTG officials did not respond when approached for a statement, while Trump left a Fortune request for comment both on Truth Social and X unanswered.
Donald Trump is nearing the day he can cash out of Truth Social’s parent company, raising concerns of a potential sell-off that could hit the meme stock hard.
On paper, Trump’s stake in Trump Media and Technology Group (TMTG) is valued at $1.95 billion, which could help cover his mounting legal fines.
However, when he agreed to a reverse merger with Digital World Acquisition Company (DWAC) on March 25, he accepted a six-month lockup period, preventing him from selling his 115 million shares.
Trump owns 59% of TMTG, and any sale could tank the stock unless done in small batches.
With the lockup expiring in three weeks, investors are growing anxious.
Trump’s financial situation appears strained—he’s been selling Trump-themed sneakers, “God Bless the USA” Bibles, and now offering a piece of the suit he wore during his first debate with Joe Biden to collectors who purchase $1,500 worth of digital Trump trading cards.
On Wednesday, TMTG shares fell 6%, closing just below $17. This wipes out all gains for the year, while the S&P 500 has risen 16% over the same period.
TMTG officials did not respond when approached for a statement, while Trump left a Fortune request for comment both on Truth Social and X unanswered.
