Trump Media hits new low as lock-up expiry looms
** Trump Media & Technology Group Corp DJT.O drops 3% to $15.15
** A near 6-month limitation on Trump and other insiders from selling TMTG shares is likely to be lifted at the end of Thursday's session
** If the stock closes at or above $12 for any 20 trading days commencing Aug. 22, insiders will be permitted to sell shares beginning Sept. 20; they are eligible to sell regardless of stock price on Sept. 26
** Trump, who owns ~57% of DJT worth ~$1.7 bln, on Friday said he does not plan to sell his shares in the company, sending the stock ~12% higher
** Since then the stock has erased those gains in four straight sessions of losses and is now trading at levels below its market debut in March
** Market experts say Truth Social parent, a favorite with retail traders, does not trade on fundamentals and is sensitive to Trump's chances of winning the 2024 U.S. election
** The $3.13 bln company is trading over 800 times its 2023 revenue
Reporting by Medha Singh
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