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DJT stock soars after Trump says he has “no intention of selling” his Trump Media shares
Trump Media & Technology Group, the social media business owned by former president Donald Trump, surged on Friday after Trump said he has “absolutely no intention of selling” his stake in the Truth Social owner.
Shares of the stock, which trades under the ticker DJT — the same as Trump’s initials — soared $1.89, or 12%, to $17.97 on Friday. The surge helped the stock rebound from a record low on September 11, the day following his debate with Vice President Kamala Harris, with investors appearing to downgrade his chances of winning the U.S. presidential election.
Trump Media & Technology Group had already suffered from a months-long slump, which lopped billions form its valuation and shaved about $4 billion from Trump’s personal holdings in the company. Trump Media’s shares have been under pressure due to the September 19 expiration of a so-called lock-up provision, which so far has restricted Trump and other company insiders from selling their shares.
Because Trump owns 60% of the company’s stock, selling even a portion of his stake could flood the market with available shares, potentially lowering its price. At a press conference on Friday, Trump pointed to the lock-up’s expiration as the reason for his stock’s slide.
“A lot of people think the reason it’s down is a lot of people think I’m going to sell, and if I sell, it’s not going to be the same,” Trump said. “But I have absolutely no intention of selling.”
Lock-ups are a common restriction on Wall Street, designed to prohibit major investors from dumping their shares in a company soon after the company goes public. That’s because large stock sales by insiders can cause a company’s shares to tank.
Even with Friday’s bump, Trump Media & Technology Group’s share price is still 77% lower than its March peak of $79.38.
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Yellowstone hiker burned when she falls into scalding water near Old Faithful, park officials say
Yellowstone National Park, Wyo. — A New Hampshire woman suffered severe burns on her leg after hiking off-trail in Yellowstone National Park and falling into scalding water in a thermal area near the Old Faithful geyser, park officials said.
The 60-year-old woman from Windsor, New Hampshire, along with her husband and their leashed dog were walking off a designated trail near the Mallard Lake Trailhead on Monday afternoon when she broke through a thin crust over the water and suffered second- and third-degree burns to her lower leg, park officials said. Her husband and the dog weren’t injured.
The woman was flown to Eastern Idaho Regional Medical Center in Idaho Falls, Idaho for treatment.
National Park Service / Jacob W. Frank
Park visitors are reminded to stay on boardwalks and trails in hydrothermal areas and exercise extreme caution. The ground in those areas is fragile and thin and there’s scalding water just below the surface, park officials said.
Pets are allowed in limited, developed areas of Yellowstone park but are prohibited on boardwalks, hiking trails, in the backcountry and in thermal areas.
The incident is under investigation. The woman’s name wasn’t made public.
This is the first known thermal injury in Yellowstone in 2024, park officials said in a statement. The park had recorded 3.5 million visitors through August this year.
Hot springs have injured and killed more people in Yellowstone National Park than any other natural feature, the National Park Service said. At least 22 people have died from hot spring-related injuries in and around the 3,471-square-mile national park since 1890, park officials have said.