The Rats Are Fleeing the Sinking Ship
At the moment, Trump Media stock, market symbol DJT, is trading at $17.91 a share. As you can see from the chart, that's a new low since it began publicly trading. This downtrend is due to the upcoming Sept. 20 date. That's when the lockout period ends, which means the company insiders, including Trump, will be permitted to sell a vast quantity of shares if they choose to do so.
That's a great deal for them as they got their shares for free as they constructed this sham company. The money that funds the share value today came from dupes who were conned by this scam. For them, the declining share price is bad news.
We don't know if majority shareholder Trump will sell his stock on Sept. 20 to cash in at the expense of the dupes. We do know, from public filings, that a number of other insiders intend to exactly that. Either way, the fact that Trump can sell his shares on or after Sept. 20 is having the effect shown on the chart.
Also driving the price down are the smarter investors who are getting out before the price goes lower. For the last few weeks, there have been more sellers than buyers, which drives the price down. Those who are keeping the faith have only their faith to justify the poor decision to stay with this stock. The smart ones are cutting their losses. No one is taking profits at the present price. Everyone who is in this stock since the NASDAQ debut is in at a loss.
Some have suggested that this stock price is a good indicator for MAGA sentiment on Trump. I'm not so sure about that. This looks more like a classic pump and dump scheme, masterfully done in this case by Donald Trump. Once again, he conned a bunch of people into investing in one of his money losing companies, only to see him cash out with millions of their dollars for himself (maybe billions in this case) and leave them holding the bag.