American Bitcoin (ABTC), the Bitcoin mining and holding company co-founded by Eric and Donald Trump Jr., saw its shares plummet after a portion of stock was allowed to trade following the lock-up period. ABTC fell nearly 50% in the first hour to $1.80 and closed at $2.19, down 38.8% for the day. Eric Trump attributed the volatility to early investors possibly taking profits, but emphasized the company’s strong foundation.
ABTC recently reported impressive Q3 results, with revenue rising to $64.2 million from $11.6 million a year earlier, and net profit reaching $3.5 million compared to a previous loss. The company’s bitcoin reserves stand at around 4,090 BTC. Despite the positive results, ABTC shares remain down 76.5% from their September peak of $9.31, reflecting the overall weakness of crypto-related stocks. Analysts warn of additional share unlocks coming in 2026 and advise investors to exercise caution.
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