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American Bitcoin Corp. (NASDAQ:ABTC) saw its shares bounce back over 4% in after-hours trading Tuesday. This came after a pretty steep sell-off earlier in the day—triggered by the lockup period ending for early investors, including one of the co-founders, Eric Trump.
The stock took a beating during regular hours but managed to claw back some ground once extended trading kicked in. Lockup expirations typically flood the market with shares that were previously restricted, which often puts downward pressure on prices. Looks like traders stepped in to buy the dip once the dust settled.