Trump Media shares plunge 13% after company files to issue additional DJT stock

Shares of Trump Media plunged after the company filed to issue millions of additional shares of stock.

Trump is the majority stakeholder in Trump Media, which created the Truth Social app and trades under the stock ticker DJT on the Nasdaq.This photo illustration shows an image of former President Donald Trump reflected in a phone screen that is displaying the Truth Social app, in Washington, DC, on February 21, 2022.to the Securities and Exchange Commission. The shares cannot be issued until a registration statement with the SEC goes into effect.

Trump Media predicted in the filing that it will receive "up to an aggregate of approximately $247.1 million from the exercise of the Warrants." The company also seeks to offer the resale of up to 146.1 million shares of stock from "selling securityholders," 114.8 million of which are held by Trump himself. Trump owns 78.8 million shares of the company, and stands to obtain 36 million "earnout shares" if the stock stays above a certain price for enough trading days.

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Trump's social media company to trade under DJT ticker symbolFormer President Donald Trump's newly merged social media company will begin trading under the stock ticker symbol DJT on Tuesday, the firm said in a new regulatory filing. The company, which owns the Truth Social app platform, will be called Trump Media & Technology Group Corp., and will trade on the NASDAQ market. DWAC's share price soared more than 30% on Monday after an appeals court paused a civil business fraud judgment against Trump for 10 days, and sharply reduced the appeal bond he will have to post to extend that pause. The share price bounce more than made up for the step drop in DWAC's stock on Friday after the merger was approved.
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