David Stryzewski, the CEO of Sound Planning Group, shares his insights on the significance of Trump’s social media platform’s early success and what it reveals about investors’ strong connection with the 45th president. In an interview with Varney & Co., Stryzewski delves into the topic, shedding light on the investors’ affinity for Trump.
The stock price of Trump Media & Technology Group (TMTG) plummeted by over 15% on Monday following the filing of millions of additional shares for sale by the parent company of former President Donald Trump’s Truth Social platform.
TMTG, trading on the Nasdaq as “DJT,” has revealed in a recent SEC filing its plans to potentially issue an additional 21.5 million shares in the near future.
According to the filing, there is a possibility of selling 146.1 million shares of the social media company, with Trump himself owning 114.8 million shares.
When the company went public through a blank-check merger with Digital World Acquisition Corp., it issued certain warrants. These warrants allow for the sale of additional shares upon exercise.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| DJT | TRUMP MEDIA & TECHNOLOGY GROUP CORP | 26.61 | -5.98 | -18.35% |
Trump Media & Technology Group
TMTG shares have experienced a significant decline since they entered the market on March 26th, dropping by 60% from their initial price of $70.90.
On Monday, Donald Trump, the presumed 2024 GOP presidential nominee, made an appearance in a New York City courtroom as the trial against him commenced. The trial focuses on the hush money payments made to Stormy Daniels.
Donald Trump has made history as the inaugural ex-president to face criminal charges.
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