Donald J. Trump, the company’s largest shareholder, has said he won’t sell when a lockup agreement expires on Thursday. But other large investors could.

Donald Trump has vowed not to sell his Trump Media shares after a lock-up period expires Thursday. The company's shares are down 81% from their peak.

The volatile Trump Media stock will face a crucial day tomorrow. Donald Trump and other insider investors in the Truth Social parent company will be able to sell shares as the lockup period after the March merger with a blank-check firm expires.

Trump Media & Technology Group stock hit a new post-merger low of $14.56 per share just hoursbefore the company’s lock-up agreement is set to end.

Investors swiftly penalized Trump’s social media business following the former president’s widely panned debate performance. Other so-called Trump trades, including bitcoin and Coinbase, went into reverse Wednesday, while bonds and Asian currencies rallied. And some funds that own solar and other clean energy stocks rose sharply.

A federal judge in Delaware has ruled in favor of a firm seeking assurance that it will be able to sell its minority stake in Donald Trump's Truth Social platform.