Trump Media & Technology Group’s shares got a second wind Friday when former president Donald Trump pledged to keep his 60% stake in the business. The comments marked Trump’s first public disclosure about his plans for his shares, reassuring investors and sending the stock up by 12%.
But on Monday, shares of Trump Media — which trades under the ticker DJT, the same as Trump’s initials — gave up some of those gains, slipping 74 cents, or 4% to, $17.23 in early trading. Trump Media, the owner of Truth Social, has plunged 77% since reaching a high of $79.38 in March.
Despite Trump’s pledge to hold his stock, the fledgling tech company is continuing to face headwinds, including the September 19 expiration or so-called “lock-up” period that has blocked insiders, including Trump, from selling their shares. Even though Trump has …