Why Trump Media Stock Plummeted This Week
Trump Media (NASDAQ: DJT) stock saw big sell-offs across last week's trading. The company's share price closed out the period down 11.9% from the previous week's market close, according to data from S&P Global Market Intelligence.
Trump Media continued to see sell-offs this past week as investors took profits on the run-up the stock saw around the election. Three company insiders sold shares, which seems to have also caused other investors to sell out of the stock.
Recent filings with the Securities and Exchange Commission (SEC) show that some Trump Media insiders moved to sell company stock after Donald Trump's victory in the 2024 presidential election. Across Nov. 8 and Nov. 11, CFO Phillip Juhan sold 384,000 shares. Meanwhile, Director Eric Swider sold roughly 136,00 shares on Nov. 8, and General Counsel Scott Glabe sold roughly 16,000 shares the same day. Altogether, the combined sales totaled roughly $16 million.
Source Fool.com
