Former U.S. president says he does not plan on selling his holdings
) fell 4.5% in premarket trading on Friday as the Truth Social parent extended this week’s steep selloff after a lock-up on insider sales expired.
Trump, whose stake is currently worth $1.6 billion, said last week he does not plan on selling his shares, turning the focus to other major stakeholders who could sell shares.United Atlantic Ventures and Patrick Orlando, whose fund, ARC Global Investments II, sponsored the blank-check company that merged with Trump Media in March, together own about 11% of Trump Media shares.
“Not only will the possible new selling activity affect DJT’s stock price directly, it will also increase DJT’s stock lending pool which will facilitate increased short selling in the stock,” said Ihor Dusaniwsky, managing director of predictive analytics at S3 Partners, in a note on Thursday.The loss-making company was last trading at $13.94 as restrictions on insider sales expired Thursday after markets closed.
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