Former President Donald Trump, the biggest shareholder in Trump Media & Technology Group, and other insiders at the Truth Social owner, can finally sell their stakes in the business — just as shares of the stock hit a new low.

Until today, Trump and other insiders have been unable to sell their stakes, even as the shares enjoyed an initial surge after the company's public offering in March, providing the company a valuation of more than $9.4 billion.

That's because of a so-called lock-up period during which time Trump and other insiders have been unable to sell. Such agreements are common with initial stock sales and are designed to keep executives from immediately selling, thereby flooding the market with available shares and causing a stock to tumble.

Despite its early stock market gains, Trump Media — which trades under the ticker DJT, the same letters as Trump's initials — has had a largely bumpy reception from Wall Street.

That path became even rockier on Thursday with DJT shares tumbling 92 cents, or 5.9%, to $14.70, representing a new low for the stock. The lock-up period for Trump and other insiders expired at the end of the trading day, or 4 p.m. Eastern time on September 19.

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