In a surprising turn of events, Trump Media & Technology Group (TMTG) faced a drastic drop in its stock price on Monday as the parent company of Truth Social, former President Donald Trump’s social media platform, filed to sell millions more shares. This announcement led to a 15% decrease in TMTG’s stock value on the Nasdaq under the symbol “DJT”.
The SEC filing revealed that TMTG could potentially issue an additional 21.5 million shares in the near future, with a total of 146.1 million shares up for sale. Of these shares, a whopping 114.8 million belong to Trump himself, indicating a significant shift in ownership within the company.
Investors reacted swiftly to the news, causing TMTG’s stock to plummet. The uncertainty surrounding the influx of new shares and the potential implications for the company’s future led to widespread selling and a notable decrease in value.
Despite the setback, TMTG remains focused on expanding its presence in the digital space. The recent developments serve as a reminder of the volatile nature of the stock market and the importance of closely monitoring company actions and announcements.
With the future of TMTG hanging in the balance, investors and industry experts are eagerly awaiting further updates on the situation. Stay tuned for more information as this story continues to develop.
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