Shares of Trump Media & Technology Group closed up nearly 8% on Wednesday, adding to the stock's post-sell-off rally.
Trump Media, which trades under the ticker "DJT," plummeted nearly 50% in the three weeks following the felony conviction of former President Donald Trump, Trump Media's majority shareholder.
Shares of Trump Media closed at $26.75 last Thursday, its lowest level since April, but began rebounding on Friday.
Trump Media, the parent company of social media platform Truth Social, started publicly trading on March 26 after merging with a special purpose acquisition company.
The former president owns a nearly 65% stake in Trump Media, but he cannot sell any of his 114,750,000 shares until a postmerger lock-up period ends in late September.
Persons:
Donald Trump, — Trump
Organizations:
Trump Media & Technology Group, Trump Media, Trump, U.S . Securities, Exchange Commission, Social
Locations:
Thursday's