The former US president’s sizable stake in his social media company is set to jump even more as he’s rewarded with additional shares in its parent company. But he can’t sell any of them for months.
Former President Donald Trump’s already sizable stake in his social media company is set to jump by more than $US1 billion , as he’s rewarded with additional shares in the parent of Truth Social — the result of its stock price staying high in recent weeks.
Yet as with the other shares he owns, Trump is not yet allowed to trade them or use his stock as collateral. With the stock at its current price, Trump is required to wait 150 days, or until late August, before he can sell any of his stake, though the shares could be traded earlier if Trump Media’s board were to waive the restrictions.
An initial frenzy pushed the value of the company up to nearly $US8 billion, but the share price has fluctuated wildly since then, falling by about half from its peak. Trump Media has been a popular target for short-sellers, who make money by betting on the decline of a company’s share price.Despite the ups and downs, Trump Media’s share price has remained above the levels set as triggers for awarding extra shares to Trump and other shareholders.
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