New Delhi, Dec. 3 -- American Bitcoin Corp. stock price tumbled 50% on Tuesday after previously locked-up shares-linked to the company co-founded by Eric Trump, son of U.S. President Donald Trump-became eligible for trading.

The stock plunged up to 50% within the first half hour of the session, triggering several trading halts, and ultimately ended the day down 39% at $2.19.

The bitcoin mining stock has been under pressure as it has descended 55.49% in last one month and 61% in six months.

According to a post by the company on X, shares issued through a private placement prior to American Bitcoin's merger with Gryphon Digital Mining Inc. were released for trading on Tuesday.

The end of a shareholder lock-in period often creates volati...