Shares of Trump Media have slumped to new lows on the first trading day that its biggest shareholder, former President Donald Trump, is free to sell his stake in the company behind the Truth Social platform.

The former president previously said he has “absolutely no intention” of selling his shares in the Truth Social parent.

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.

Trump, whose 114,750,000 share stake in Trump Media was worth $1.5 billion at Friday’s close, said last week that he would not sell his shares when the restrictions lifted.

While former U.S. President Donald Trump has said he will not sell his $1.7 billion stake in Trump Media after restrictions likely expire on Thursday, other insiders could soon cash in their gains.

The Trump Media lockup is over. Could DJT stock become the ex-president's latest con job? This is an adapted excerpt from the Sept. 17 episode of "Alex Wagner Tonight."

Since going public, shares in Trump Media have gyrated wildly, often depending on news related to Trump, the Republican presidential nominee.

Trump Media & Technology Group (TMTG) shares hit their lowest level ever when the stock market opened on Friday. Friday marked the first day former President Donald Trump, the GOP presidential nominee,

Trump Media & Technology Group stock hit a new post-merger low of $14.56 per share just hoursbefore the company’s lock-up agreement is set to end.

Key Takeaways Shares of Truth Social's parent company, majority owned by former President Donald Trump, extended their retreat Friday.Investors are digesting the possibility that Trump or other investors who were previously prohibited from selling shares could soon begin doing so.