Eric Trump Declares He Won't Sell Amid 38% Drop in American Bitcoin Shares: 'Fundamentals Remain Unmatched'

Stock Recovery: American Bitcoin Corp. (ABTC) shares saw a modest recovery in after-hours trading after a significant drop due to the expiration of a lock-up period for early investors, including co-founder Eric Trump.

Investor Actions: Following the lock-up expiration, Trump indicated that early investors could cash in on their profits, while he himself remains committed to holding his 68.147 million shares.

Market Performance: ABTC stock experienced volatility, initially dropping over 50% during regular trading but rebounding by 4.57% in after-hours trading, closing at $2.30.

Company Overview: American Bitcoin, a subsidiary of Hut 8 Corp., holds a strategic Bitcoin reserve of 4,004 BTC, valued at approximately $372 million, and began trading on Nasdaq in early September.