Shares of American Bitcoin, co-founded by Eric Trump and Donald Trump Jr., fell sharply—dropping nearly 40% following the expiration of its lockup period. Despite the selloff, the company reported robust Q3 financial performance, with revenues soaring to $64.2 million and net profits reaching $3.5 million. Eric Trump confirmed that the share decline was anticipated due to unlocked pre-merger shares and reiterated confidence in the business. The stock's decline reflects broader weakness in crypto equities and investor caution amid increased share availability. Additional political scrutiny surrounds the Trump family's cryptocurrency involvement, as reports allege significant earnings and foreign investment concerns.
Continue to read American Bitcoin Stock Plummets 40% After Lockup Period Ends Amid Strong Quarterly Results
Shares of American Bitcoin, co-founded by Eric Trump and Donald Trump Jr., fell sharply—dropping nearly 40% following the expiration of its lockup period. Despite the selloff, the company reported robust Q3 financial performance, with revenues soaring to $64.2 million and net profits reaching $3.5 million. Eric Trump confirmed that the share decline was anticipated due to unlocked pre-merger shares and reiterated confidence in the business. The stock's decline reflects broader weakness in crypto equities and investor caution amid increased share availability. Additional political scrutiny surrounds the Trump family's cryptocurrency involvement, as reports allege significant earnings and foreign investment concerns.
Continue to read American Bitcoin Stock Plummets 40% After Lockup Period Ends Amid Strong Quarterly Results
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