In accordance with Blockbeats, on December 3, Bloomberg reported that American Bitcoin Corp., a cryptocurrency mining company co-founded by Eric Trump, saw its stock plummet after the lockup period expired. Following the opening, the stock dropped more than 50% within 30 minutes, triggering multiple trading halts. By 2:30 PM New York time, the stock had narrowed its decline to 35%, closing at $2.33. The company rang the opening bell on NASDAQ on September 16.
Trump-backed American Bitcoin Shares Plunge 35% After Lockup Expiry
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