Trump Media shares plunge after company files to issue additional DJT stock
Shares of Trump Media plunged more than 13% on Monday after the company filed to issue millions of additional shares of stock.
Shares of Trump Media plunged more than 13% on Monday after the company filed to issue millions of additional shares of stock.
Trump Media’s dramatic slide came as Donald Trump headed to a Manhattan court to begin jury selection for his criminal trial on hush money-related charges. Trump is the majority stakeholder in the company.
Trump Media, which created the Truth Social app and trades under the stock ticker DJT on the Nasdaq, fell nearly 20% last week.
The company’s intent to issue more common stock was made public Monday morning in a “preliminary prospectus” filed to the Securities and Exchange Commission. The shares cannot be issued until a registration statement with the SEC goes into effect.
The filing describes a plan to offer more than 21.4 million shares of common stock, issuable “upon the exercise of warrants,” the filing shows. Stock warrants give their holder the ability to buy shares at a predetermined price within a certain time frame.
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