“Lockup” is an investment term. When a company has an IPO (Initial Public Offering, which is the day they become publically available for stock trades), the big shareholders and company employees who are invested ahead of the IPO are “locked” from selling their shares for a certain number of days. This isn’t required, but most companies having an IPO end up having a lockup period set as well.
In regards to this headline, it just means that the initial investors and big shareholders are now free to sell their shares, which they are apparently doing in droves!
There was a rather public legal fight earlier with two of the co-founders (not Trump) who were trying to exit and claiming they had the right to do so earlier than the lockup date and that the company wasn’t letting them do so. IIRC, they held about 10% of the company.
I’d assume that they got out or started getting out as soon as possible.
“Lockup” is an investment term. When a company has an IPO (Initial Public Offering, which is the day they become publically available for stock trades), the big shareholders and company employees who are invested ahead of the IPO are “locked” from selling their shares for a certain number of days. This isn’t required, but most companies having an IPO end up having a lockup period set as well.
In regards to this headline, it just means that the initial investors and big shareholders are now free to sell their shares, which they are apparently doing in droves!
There was a rather public legal fight earlier with two of the co-founders (not Trump) who were trying to exit and claiming they had the right to do so earlier than the lockup date and that the company wasn’t letting them do so. IIRC, they held about 10% of the company.
I’d assume that they got out or started getting out as soon as possible.