The price of DJT has sharply fallen in recent weeks, cutting billions of dollars in value from Trump Media shares held by Donald Trump and others.
Trump Media in an update to a FAQ on its website provided tips to shareholders on how to avoid their stock being loaned out for short selling.
The share price Wednesday was nearly 46% lower than its closing price on April 1, the same day Trump Media disclosed it had booked a $58 million loss for 2023, with just $4.1 million in revenue for that year.is by far the biggest shareholder in Trump Media, owning nearly 60% of its shares. And his 78.75 million shares could soon grow by 36 million shares if DJT's price stays above $17 per share in the coming days due to an earnout provision in the merger deal that took the company public.
Short selling is the practice of borrowing shares of a company's stock, and then quickly selling those shares for a certain amount of money. The short seller then waits, hoping that the share price will drop over some period of time, so that they can then repurchase the same number of shares and give them back to the lender, pocketing the difference between what they first sold the shares for as profit after paying brokers' fees.
"I hereby expressly opt-out of any securities lending programs and instruct you to not loan out any of my shares," the letter says, before a section that the sender can fill out with their number of shares.
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