Shares of Trump Media & Technology Group Corp. continued to fall on Thursday, after regulators this week cleared former President Donald Trump's social-media platform to take steps that risked diluting shareholders.
Former President Donald Trump's net worth dropped about $475 million on Thursday as shares of Trump Media continue to slide, which has decreased the value of his stake in the social media company by more than $2 billion this month.
Shares of Donald Trump's media company Trump Media & Technology Group Corp DJT are falling Thursday with the company's recent share offering filing approved.
Trump Media (NASDAQ: DJT ) stock is falling on Thursday as the social media company's shares continue a recent decline alongside a filing with the Securities and Exchange Commission (SEC). The big news here is the SEC approving and declaring effective a registration statement.
Shares of Trump Media, the company behind Truth Social majority-owned by former President Donald Trump, were down more than 10% in premarket trading. Trump's 114,750,000 shares in the company, worth more than $5.6 billion at the beginning of the month, would be worth around $3.2 billion based on Thursday's moves before the bell.
The parent company of former President Donald Trump's Truth Social platform said it had been cleared to resell certain shares and warrants.
Martin Shkreli, the investor widely referred to as ‘Pharma Bro,' has claimed that he and Barron Trump are behind the launch of the mysterious DJT crypto token, following a rally in the price of the meme coin on rumors of its purported links to U.S. presidential candidate Donald J. Trump.
Trump Media & Technology Group Corp. — the company behind former President Donald Trump's Truth Social platform — said Tuesday that regulators allowed some of its investors to resell certain securities and made certain warrants available for exercise.
Trump Media & Technology Group said on Tuesday the Securities and Exchange Commission has declared effective the company's filing for resale of certain shares and warrants, potentially giving it about $247 million in proceeds.
In about two weeks, Trump Media has fallen over 35%. That drop has lit up negative issues.
The stock price of Trump Media plummeted by more than 17% in after-hours trading. The Truth Social owner said its registration of additional shares had been declared effective by the Securities and Exchange Commission.
Shares of Trump Media & Technology Group tumbled more than 13% on Tuesday, accelerating the stock's steady slide in recent weeks. Trump Media shares are down about 40% since May 30, when a New York jury found former President Donald Trump guilty of 34 felony counts of falsifying business records.