Trump Media's market value has been tanking steadily for a while now losing more than 40% of its value in the last 30 days.
But thanks to Jack Smith's new superseding indictment, it's now hit a new low, closing Tuesday at $20.99.
Trump owns about 60% of the company's outstanding stock. He'll be able to start dumping those shares as soon as Sept. 20th, when a six-month "lockup period" that has prevented insiders from unloading their holdings is expected to lift.
Another strong indicator that it'll tank even harder: Phillip Juhan, CFO of Trump Media, recently sold approximately $1.9 million in company shares. which were "remitted back to the company solely to cover withholding payments to applicable taxing authorities,” according to a recent securities filing.
Trump Media CEO/semi-professional cow Devin Nunes, chief operating officer Andrew Northwall, and general counsel Scott Glabe have all sold certain amounts of their company shares, according to filings with the Securities and Exchange Commission (SEC).
When you've lost Devin Nunes, you're really failing.
Trump is also in violation of his initial Truth Social contract, in which he agreed to never to return to posting on Twitter.
Trump this week dodged a contempt of court ruling in litigation over his Truth Social pump-and-dump scheme Tuesday, but a Delaware judge said she’ll hold his “deeply disappointing” legal tactics against him if he can’t stay within the confines of the law, according to Bloomberg.
Trump could offload his stock for a payday of about $2 billion, according to a recent report, though the move would likely send its already-slumping value plummeting even lower.