Trump Media looks to snap selloff amid DJT post-lockup trading frenzy

• Trump Media shares rose after a series of sharp declines.
• DJT stock had fallen sharply around the time lockup agreements expired, allowing company insiders including majority-owner Donald Trump to start selling their shares.
• Trump said he is not selling his stake, but Trump Media has warned that other early investors were planning to cash out.

Trump Media shares turned higher Tuesday morning, as the company behind Truth Social looked to pull up from a downward spiral that coincided with company insiders, including majority-owner Donald Trump, getting clearance to start selling their stock.

DJT shares climbed as much as 7% in heavy trading shortly after the opening bell. The stock was up around 2% as of 11 a.m. ET.

The upswing followed six straight trading days in the red, which drove Trump Media stock down more than 32%.

This dive was just the latest negative stretch in a monthslong slump for the company, which went public in late March after completing a merger with a special purpose acquisition company.

Since surging to an intraday peak of $79.38 per share in its Nasdaq debut, Trump Media stock has lost more than 84% of its value.

On Monday, the stock fell to its lowest point since before October 2021, when news of a planned merger between Trump Media and the SPAC, Digital World Acquisition Corp., was first made public.

Trump currently owns nearly 57% of the company's outstanding shares. While the value of his stake has declined by billions of dollars in recent months, it was still worth nearly $1.5 billion Tuesday morning.

The Republican presidential nominee and other early investors in the company were barred from selling their shares until lockup agreements had expired, which they did Thursday.

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