Lockup restrictions on Trump Media insiders are set to expire on Thursday, allowing certain individuals to sell their shares in the company. Trump Media & Technology Group Corp (DJT) shares have been trading lower as the expiration date approaches. Former President Donald Trump, who reportedly holds close to a 57% stake in Trump Media, has stated that he has no intentions of selling his shares.

Trump Media, the parent company of the popular social media platform Truth Social, has attracted attention from retail investors since its merger announcement with special purpose acquisition company Digital World. The company made its public debut in late March, with its stock reaching a high of $79 before experiencing a decline.

Due to a lockup agreement, Trump and other insiders were restricted from selling any shares for approximately 180 days. This lockup period is set to expire on Thursday, according to CNBC. The expiration of the lockup restrictions has created volatility in Trump Media's share price throughout the year.

Just last week, the stock saw a 25% increase after Trump assured that he had no intention of selling any of his stake in the company. As the majority shareholder, Trump's stake in Trump Media is valued at approximately $1.8 billion as of Wednesday's closing.

In anticipation of the lockup period expiration, Trump Media shares fell by 3.22% on Wednesday. This decline followed a Delaware judge's ruling on Tuesday, which determined that the company breached a contract with ARC Global. As a result, Trump Media will have to grant ARC Global a larger portion of its stock. ARC Global, holding a 4.77% stake in Trump Media, may decide to sell its shares once the lockup period expires.

At the time of publication, Trump Media shares were down by 3.81% at $15.03, according to Benzinga Pro.

As the lockup restrictions come to an end, it remains to be seen how the potential selling of insider shares and recent legal challenges will impact the future performance of Trump Media in the stock market.