Heat index values to return to near 100° by FridayRepublican 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, Tuesday, Sept. 10, 2024, in Philadelphia. with Vice President Kamala Harris on his mind, as the former president can start selling shares of Truth Social's parent company next week if he wants when a lockup provision ends.
The first day that Trump can begin selling shares of Trump Media & Technology Group Corp., if he chooses to do so, is Sept. 19. A lockup provision generally prevents company insiders from selling newly issued shares for six months.Trump owns nearly 115 million shares 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 shares are worth approximately $2 billion.
The question remains if Trump will decide to sell any of his shares. Even though he'd be certain to receive a sizeable payout, the stock is now, which Trump created after he was banned from Twitter and Facebook following the Jan. 6, 2021, Capitol riot. 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.
Shares of Trump Media are down nearly 12% before the market open on Wednesday, following Trump's debate on Tuesday night with Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.
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