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Politics

Trump Media Lockup Provision Ends Next Week

Trump Media Donald Trump Kamala Harris Truth Social

Republican presidential nominee former President Donald Trump speaks to reporters in the spin room after a presidential debate with Democratic presidential nominee Vice President Kamala Harris, Tuesda

Former President Donald Trump is set to potentially sell shares of Truth Social's parent company, Trump Media & Technology Group Corp., as a lockup provision is set to end next week. The company's shares have experienced a significant drop of over 14% before the market opening on Wednesday, following Trump's recent debate with Vice President Kamala Harris and an endorsement of Harris by singer Taylor Swift.

Trump, who owns nearly 115 million shares of the company, could start selling his shares on Sept. 19, with an estimated value of around $2 billion based on the latest closing price. Despite the potential for a substantial payout, the current stock value is notably lower than its peak when Truth Social debuted on the Nasdaq in March at $79.38.

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