Truth Social stock craters on first day Trump can sell his shares

Friday is the first day that Donald Trump can sell his majority shares in Trump Media & Technology Group, the company that operates his Truth Social platform. Unfortunately for him, the stock opened Friday by dropping to its lowest level so far, at $13.73 a share. 

The company was valued at more than $5 billion in March, with shares reaching a closing high of $66.22, but is now worth less than $3 billion. As of early Friday, Trump’s shares are estimated to be worth around $1.6 billion.