Shares of Trump Media dropped nearly 6% following the expiration of a lockup period for insiders to sell their stock, highlighting volatile investor sentiment.
President Trump, who owns 57% of Trump Media, indicated he has no plans to sell his shares, which could impact the stock's market value.
After a popular debut with shares soaring above $60, Trump Media has faced significant volatility, particularly amid developments in the upcoming election.
Though Truth Social was created to respond to Trump's bans from larger platforms, it has struggled to gain user traction, challenging its long-term viability.
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