And many traders are betting that the stock price will continue to fall further.
Shares of Trump Media have erased all their gains since they began trading under the ticker DJT last month.
The stock closed down more than 8% Monday at $37.17 after falling about 11% earlier in the day. It had traded above $79 a share on March 26, the day of its debut.
But experts say it’s hard to draw any firm conclusions about what the stock price’s movement means. That’s because so many available shares — about 12%, one of the highest ratios of any active stock listing — reflect traders’ bets that the stock will fall, said Ihor Dusaniwsky, managing director at S3 Partners, a data and predictive analytics company.
This is called short-selling.
He can’t do anything with them for 6 months. So this is just a gravy of shadenfreude.
his family is the board of the company and can waive the restrictions on selling at will
Not according to the SEC.
He can with a board approval. First he has to get rid of those pesky founders.🙄
He can sell early with a board vote approval. Unsurprisingly, he filed a suit to strip the founders of their shares two weeks ago.
It’s delicious