As dump follows pump
By 
Some owners of oceanfront property in Iowa are finding out that their investment may be worth less than they thought:
Shares of Trump Media sank Monday to their lowest price since 2021, days after majority owner Donald Trump and other company insiders got the green light to start selling their stakes in the Truth Social operator.
The stock, which appears as DJT on the Nasdaq, dropped more than 10% in the final hour of trading, falling as low as $12.16 per share and putting the company on track for its sixth straight day of declines
Trump Media’s share price has fallen nearly 85% since the company surged in its public trading debut in late March.
The stock as of Monday at 3:30 p.m. ET was at its lowest intraday level since before October 2021, when it was revealed that the blank-check firm Digital World Acquisition Corp. was planning to merge with then-private Trump Media.
The company’s market capitalization, which crossed $10 billion in March, has shrunk below $2.5 billion. Trump owns nearly 57% of the company’s outstanding shares, a stake worth nearly $1.4 billion as of Monday around noon.
Trump and other company insiders were bound by lockup agreements that barred them from selling their shares in the initial months after Trump Media went public.
Those restrictions expired at the closing bell Thursday.
[…]
Trading volume accelerated significantly as the lockup lifted. More than 14 million shares changed hands on Thursday and nearly 22 million were exchanged Friday, far exceeding the 30-day average volume of about 8.3 million shares.
Traders swapped more than 17 million shares on Monday.
Trading volume being up is certainly a development nobody could have anticipated.
DJT shares briefly going up because Donald J. Trump solemnly swore that he would never sell his shares explains so much about why there is a very real chance that he could be re-elected despite everything.