Trump Media shares tank 12% after company says it could sell more stock
Shares of Donald Trump's social media company slumped 12% on Monday, extending their string of losses, after the company said in a regulatory filing that it could sell millions of additional shares in coming months.
Shares of 's company slumped 12% on Monday, extending their string of losses, after the company said in a regulatory filing that it could sell millions of additional shares in coming months.The filing showed a potential of 146.1 million shares including 114.8 million shares owned by Trump himself.
It also listed an additional 21.5 million shares that could be sold upon the exercise of certain warrants issued when the company went public through a blank-check merger with Digital World Corp.
Shares of Trump Media & Technology Group have retreated sharply since their market debut on March 26, falling 60% from the opening price of $70.90.
Trump, a former U.S. president and presumed Republican 2024 nominee, is on trial in a Manhattan court related to hush payments to a porn star.
Source: Stocks-Markets-Economic Times
