On the eve of the "lockup" expiration, Trump Media stock hits a new post-merger low.

• On the day before the expiration of "lockup" restrictions, shares of Truth Social owner Trump Media reached new lows, with insiders like majority shareholder Donald Trump unable to sell their stakes.
• The stock market saw a 3.22% decline in share prices, ending the day at $15.62 per share.
• The stock price increased by 25% on Friday, but it has been declining since the former president stated that he had no intention of selling his nearly 57% stake.

On the day before the expiration of "lockup" restrictions, the shares of Truth Social closed at a new low post-merger.

On Wednesday, Trump Media's stock price closed at $15.62 a share, resulting in a 3.22% decline on light trading. The company's market capitalization was $3.126 billion at the end of the day.

In late March, Trump Media went public on the Nasdaq through a merger with a special purpose acquisition company.

Under a common IPO provision known as a lockup agreement, Trump and others who owned stock in the company prior to its public listing were prohibited from selling any of their shares for approximately 180 days.

For Trump Media, the lockup period expires on Thursday.

Last week, shares surged by 25% following the Republican presidential candidate's statement that he had "absolutely no intention of selling" any of his nearly 57% stake in Trump Media.

Although it rose 11% on Friday, the stock has been steadily declining since then.

Nearly half of Trump's personal net worth was tied up in his stake in the company at Wednesday's closing stock price, which was worth roughly $1.8 billion.

On Tuesday, shares of Trump Media dropped over 6% following a Delaware judge's decision that the company had violated a contract with an early investor who aided in its public listing.

The judge ordered Trump Media to give ARC Global a larger share of its stock than originally planned. Once the lockup expires on Thursday, ARC Global will be able to sell its current 4.77% stake in the company.

On Monday, shares fell, ending the day with a nearly 4% decline, one day after Trump was targeted in an apparent second assassination attempt.

On Monday, the downward trend of the stock contrasted with the significant increase in Trump Media shares, which jumped more than 30% following the news of Trump's survival of an assassination attempt on July 15.

Since the July assassination attempt, shares have fallen more than 61.66%, while the stock has decreased 76.5% overall since the March merger.