Trump Media slides to 6-month low after filing shows the president’s trust could sell $2 billion of stock

Trump Media
stock dropped on Wednesday to its lowest level in six months after a recent filing would allow the president’s trust to sell as much as $2.3 billion worth of stock in the company.

Trump Media’s price declined as much as 7% early Wednesday to trade around $18 a share, the lowest the stock has been in about six months. Shares are now down 44% year-to-date.

The sell-off took place after the
Truth Social
parent filed with the US Securities and Exchange Commission, which proposed registering nearly 115 million shares of the company owned by the Donald J. Trump Revocable Trust for sale.

That amounts to about $2.2 billion worth of stock based on Wednesday’s price of $19.19 near midday. It also represents the trust’s entire holding of Trump Media, and more than half of the total market cap of the company, which stood around $4.2 billion on Wednesday.

The filing and

subsequent stock drop come shortly after right-wing cable news outlet

Newsmax

rocketed over 2,000% after its IPO on Monday, drawing

comparisons among investors to Trump Media’s early days as a public company.

Trump has

previously said that he had no plans to

sell stock

in his social media company. When shares were surging around the election, he brushed off rumors of him potentially selling as statements peddled by “market manipulators or short sellers

” and publicly asked authorities to look into the situation.

Later in December, he transferred ownership of his shares of the company to the trust, which is operated by his son,
Donald Trump Jr
.

The Trump-Vance team and Trump Media did not immediately respond to Business Insider’s request for comment.

Shares of Trump Media have been on a rollercoaster since the company went public in 2024, with shares riding the hype over Donald Trump’s presidential campaign before tumbling. The stock is down 70% from its peak in October.

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