Key Takeaways
- Trump Media & Technology stock has risen in recent sessions, climbing roughly 10% Wednesday morning.
- The shares have mostly fallen this year, last week on news that lock-up agreements limiting some owners’ ability to sell the stock had expired.
- This week, though, the stock has risen back above Friday’s close.
Trump Media & Technology (DJT) stock has shown a bit of bounce this week.
Stepping back a bit, shares of the Truth Social parent company are still well off highs seen earlier this year, when the stock changed hands at nearly $80 per share. But after touching intraday levels below $12 yesterday, they were more recently trading around $14, up about 10% on the day and ahead of Friday’s close of $13.55.
The company’s stock, majority owned by former President Donald Trump, has mostly fallen this year, moving dramatically at times based on its financial results and investors’ estimations of Trump’s political future. Late last week, another dynamic drove trading in the shares: the expiration of lock-up agreements that limited the ability of Trump and some other insiders to sell their shares.
Trump has said he has no plans to sell his stake in the company. Still, investors have wondered whether he or other large investors in the company might move to sell shares. Others have speculated that the expiration of the lock-ups could spur further pressure on the shares by short sellers.