Trump's 'Winning' Strategy: Media Stock Crashes 70% as Kamala Harris Surges!

Trump media djt is on a winning streak with a fantastic 70% plunge just in time for kamla Harris's poll surge CNN's Matt Egan and Rahel Solomon break down Trump's latest success story and the Mysterious factors behind this stock market Masterpiece could Trump's return to X Twitter or the looming stock selloff be the secret sauce watch as we Marvel at this financial roller coaster and speculate on Trump's next big move honestly I wouldn't touch that stock if my life depended on it president Donald Trump could be in for a huge financial windfall in the coming days if he can manage to cash in on his multi-billion dollar social media Fortune but it may not be so easy to get a hold of that money the restrictions that prevent him from selling or borrowing against his stakes and Truth social owner Trump media are set to expire but they aren't the only thing that could keep him from selling shares let's bring in CNN's Matt Egan who joins us now so walk us through some of the obstacles here Matt yeah Rael there are a lot of obstacles look I've been covering this Trump media story for years and it has been so fascinating on so many different levels one of the big ironies here is that Trump has been sitting on this truth social multi-billion dollar fortune that could help him meet some of his cash requirements but he hasn't been able to touch it right because like deals other deals like this there are these lockup restrictions right that prevent insiders from selling right away now those restrictions are set to lift in the next few weeks if the stock price stays above $12 it'll lift as soon as September 20th if not it'll still lift by September 25th and at that point Trump can really do whatever he wants in theory right he could sell this to pay legal bills he could fund his presidential campaign he could I don't know buy a sports team whatever he wants of course practically as you know Rael it's always hard for major major shareholders to quickly dump their stock and it's even harder in this case right I mean how would that look Trump is not just the dominant shareholder he is the most popular user on the only product true social he is the face I mean the ticker symbol is djt right that's why NYU Professor Michael ologi told me that it would be all but impossible for Trump to liquidate his whole stake or even just a third of it without completely tanking the stock price it would create a crisis of confidence and look the stock price is already tanking it fell another 4% yesterday briefly dropping below $20 a share for the first time since this deal closed uh in the spring and it's now down 70% from late March that's the sell-off that has accelerated as vice president Harris has gained in the polls as this lockup restriction lifting looms and also as these concerns about whether or not this company is dramatically overvalued continue and now his stake in theany it was worth $6 billion in May it's now down to $2.3 billion still a lot of money but a lot less than it was one last Point here is even though it's going to be hard for Trump to sell a major part of his stake here there is another way he could tap this Fortune he could borrow against the value of those shares if of course he can find someone a bank or a wealthy individual or some other entity to lend to him yeah that's a big if

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