After the ban period, insiders or quick selling led to a continuous decline in the stock price of Trump Media & Technology Group (DJT.US).

As the lock-up period prohibiting insiders of Trump Media & Technology Group (DJT.US), such as major shareholder Trump with a 56.6% stake, from selling their shares expired, the stock fell 5.89% on Thursday and dropped over 3% in pre-market trading on Friday. Trump Media & Technology Group merged with a special purpose acquisition company and went public on Nasdaq at the end of March. According to the terms of the company's initial public offering (lock-up agreement), Trump and others who received shares before the company went public were not allowed to sell any shares for approximately 180 days. This lock-up period ended on September 19th. The stock price of Trump Media & Technology Group had reached a high of $79.38 after the IPO, with traders believing it was a speculative bet on Trump returning to the White House. However, the stock has dropped significantly since then, accelerating in recent weeks as Trump lost his lead over Democratic presidential candidate Harris in opinion polls. Concerns about insiders selling shares after the lock-up period ended have caused the stock of Trump Media & Technology Group to decrease for four consecutive trading days this week, with a total decline of over 18%. Although Trump stated last week that he would not sell his shares in the social media company, other insiders may soon sell their Trump Media & Technology Group shares to realize their profits. Other major shareholders who may sell their shares soon include United Atlantic Ventures and ARC Global Investments, owned by Patrick Orlando, collectively holding 11% of Trump Media & Technology Group's shares. Steve Sosnick, Chief Strategist at Interactive Brokers Group, Inc. Class A, said, "Even if Trump doesn't do it, it will be interesting if other insiders start selling, because that will be a clue as to what they think Trump's mindset is about selling." According to a provision in the prospectus, if Trump Media & Technology Group's stock ends the regular trading session at $12 or higher, insiders of the company can start selling their shares after the market opens on Thursday. The strategist stated that Trump Media & Technology Group's nearly $3 billion market value is not related to its daily operations, with a valuation of over 1000 times its revenue, far exceeding that of chip giant NVIDIA Corporation (NVDA.US), whose market value is 24 times its revenue. Steve Sosnick said, "Even if only a portion of shares are sold, the market may not be able to absorb it without causing significant damage to the stock." "Ultimately, a lot will depend on whether Trump keeps his promise not to sell, and the long-term prospects of the company entirely depend on his electoral prospects."