Shares of Truth Social continue to fall this week. Here’s why

Shares of Truth Social’s parent company fell on Thursday, extending the latest round of declines for Trump Media & Technology Group (DJT) as it took its current form at the end of March.

Shares traded as high as $70 shortly after going public through a merger with a blank check company in March, but the stock has been on a relatively consistent downward trajectory since then.

They rose after former President Donald Trump’s June debate with President Joe Biden and an assassination attempt on Trump in July. Biden’s replacement with Vice President Kamala Harris at the top of the Democratic ticket and the first Harris-Trump debate weighed on the stock in the meantime. Shares ended Thursday just under $15.

Trump denies intention to sell DJT shares

This week, investors’ attention turned to another event: the expected end of a lock-up period that prevented Trump, a company executive and several other insiders from selling their shares. Trump owned nearly 60 percent of the company’s outstanding shares as of an August regulatory filing.

Last week, Trump expressed his support for DJT’s actions in statements. “My intention is to hold this stock for a long time,” he wrote on Truth Social on Friday. And in a televised interview the same day, he said: “I don’t want to sell my shares. I have no intention of selling my shares.”

DJT shares have been falling steadily this week. It ended Thursday down nearly 6%.

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