NEW YORK (AP) — The stock price for Donald Trump’s social media company slid again Monday, pushing it nearly 60% below its peak set late last month.
Trump Media & Technology Group was down 16.8% at $27.10 in midday trading as more of the euphoria that surrounded the stock fades. It’s a sharp comedown since nearing $80 after the owner of Truth Socialmerged with a shell company to get its stock trading on the Nasdaq under the symbol “DJT,” for Trump’s initials.
Part of the decline may be due to criticism that the stock price had zoomed way past what skeptics said the money-losing company is worth, particularly one with tough odds for success. But another part is also likely because of action Trump Media took Monday.
The company filed documents with the U.S. Securities and Exchange Commission that open the door for the future potential sale of millions of shares. The document, called an S-1, relates to warrants held by investors that can be transformed into shares of stock, as well as shares held by company insiders.
Related articles:
Related suggestion:
South Carolina Senate approves $15.4B budget after debate on bathrooms and conference switchingSantiago Espinal has 3 RBIs, Fernando Cruz pitches out of another jam and Reds beat Phillies 7Santiago Espinal has 3 RBIs, Fernando Cruz pitches out of another jam and Reds beat Phillies 7Election 2024: Biden campaign embraces TikTok despite President signing law that could ban itPlayoff hopes fading for troubled Crusaders in Super Rugby PacificSouth Carolina Senate approves $15.4B budget after debate on bathrooms and conference switchingCubs OF Cody Bellinger sidelined by two fractured ribs on his right sideContreras has 3 hits as Brewers take advantage of sloppy inning by Pirates in 3McIlroy ready to return to PGA Tour policy boardUN report says 282 million people faced acute hunger in 2023, with the worst famine in Gaza
0.0963s , 6497.5625 kb
Copyright © 2024 Powered by Trump Media stock slides again to bring it nearly 60% below peak ,International Issue news portal