Former president Donald Trump has said that he has no plans to sell his stake, but investors appear to be increasingly unsure about the company’s value. Shares of Trump Media & Technology Group Corp.

Donald J. Trump, the company’s largest shareholder, has said he won’t sell when a lockup agreement expires on Thursday. But other large investors could.

Although Trump has vowed not to sell, the stock has tumbled as insiders like Truth Social's co-founders are free to cash out.