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Trump Media slides to new low as lock-up expires
STORY: Shares of Trump Media & Technology Group fell as much as 8% in Friday morning trading after a lock-up prohibiting insiders from selling their shares expired.Shares of the Truth Social parent, more than half of which are owned by Republican presidential candidate Donald Trump, have slumped about 20% this week.And they are down about 80% from their April peak.Trump, whose stake in the loss-making company is currently worth about $1.6 billion, said last week that he did not plan on selling his shares after the lockup expired.With only a third of Trump Media’s stock currently available for trading, any stake sale is expected to rock the shares.One analyst pointed out that the expiration of the lock-up on insider sales could also lead to more short selling of the stock.Trump Media did not immediately respond to a request for comment.