Trump stock tanks after issuing tens of millions new shares
Trump Media & Technology Group’s stock is tumbling again after the company announced a massive new influx of shares. The struggling company is rapidly losing money, and a new stock offering could help it stay afloat.
But there’s a downside to going back to the market with new shares: A new public stock offering of 21.5 million shares announced Monday would add more than 15% more stock to the publicly available shares of the Truth Social owner. That would substantially devalue existing shareholders’ stakes — including that of former President Donald Trump.
Shares of TMTG (DJT) fell more than 15% Monday. The stock had rocketed higher in recent months in anticipation of merging a blank-check acquisition company with Trump’s media business. But it has lost more than 60% of its value from its peak on March 26, the day after the merger was completed and it started trading publicly as TMTG.
My eyes nearly rolled out of my head seeing that he had the stock symbol be his initials, but after a moment of thought, I realized it must be killing him to see "his" value plummet. That's wonderful.
There's history there. This isn't the first time.
https://www.cnn.com/2024/03/25/investing/trump-stock/index.html
I guess. It's still billions of dollars.
Lol @ the downvotes. I'm just guessing he's still happy that this is worth a bundle.
Maybe. I doubt it'll hit penny stock status before he can sell, but one can always hope.
He just got kicked off the billionaire list... He's a broke bitch. Personally I can't wait for Putin to come collect the half a billion he owes.
He got kicked off the Forbes list of richest billionaires, which isn't the same thing as not being a billionaire. Or an accurate list for that matter.
Only his accountants know what he's actually worth, and they're paid to lie regardless.