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Donald Trump's media company falls 12%, extends selloff

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First-ever speedcubing competition in P.E.I. draws large crowd | SaltWire #rubikscube #charlottetown - Shares of Donald Trump's media and technology firm fell as much as 12% on Monday, extending a selloff that has now reduced the value of his stake in the operator of Truth Social to $2.9 billion.

The declines are reducing a potential windfall for Trump who could sell his shares to raise money for his 2024 presidential campaign and legal expenses, although lock-up restrictions for six months could prevent him from selling or borrowing against his shareholding. The market value of whole of Trump Media & Technology Group is now below that figure, at about $5.55 billion.

Trump Media & Technology Group has a short interest of about 4.75 million shares, or 12% of its free float, according to analytics firm S3 Partners.

 

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