$58M downtown Residence Inn hotel to break ground soonFILE - The stock price chart for the Trump Media and Technology Group on the NASDAQ website is seen on a computer screen in New York on April 19, 2024. – For all the debate about just how rich former President Donald Trump is, one thing is clear: His ownership stake in Trump Media & Technology Group makes him a billionaire.
Trump does not run TMTG. Its CEO is Devin Nunes, the former Republican U.S. Representative from California. But Trump is the biggest draw for its Truth Social network, posting his “truths” on the social-media platform.Trump owned 57.3% of all the company’s shares, as of Aug. 15. Based on the company’s total market value of nearly $3.6 billion coming into the week, that made Trump’s stake worth a little more than $2 billion.
As part of an agreement that runs until February 2025, Trump has agreed to wait six hours after posting on Truth Social before he can post any “non-political communications” on other social media platforms Unlike more mainstream social media platforms, Truth Social does not release information about certain measures of performance, such as signups and average revenue per user. This can make it more challenging for investors to determine how the company’s business is doing.Poorly, for the most part. After sitting above $60 in March, it tumbled toward $16 before perking up a bit on Friday and closing at $17.97.
How often do companies see big investors flood the market with their shares immediately after a lock-up period ends?
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