Truth hurts: Trump has lost billions as social media company makes another stock move

, announced the issuance of 21.5 million new shares on Monday, causing the market to sell off many of its shares en masse as the stock dropped over 15%.CNN. The decline started on April 2, when the stock traded at $51.60. It has since nearly halved its value.

TMTG will not be able to sell those new stocks immediately because they will have to jump through other hoops, including a six-month waiting period, in order to get the move finalized.as $71.93 on March 27 as investors celebrated the company’s merger with Digital World Acquisition Corp., a “blank-check company” or type of business that raises cash to find other companies to merge with.

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