Trump Media stock plummets after company files to issue millions more shares

Trump Media & Technology Group's stock price plunged by more than 15% on Monday after the parent company of former President Donald Trump's Truth Social platform filed to sell millions more shares.

which trades on the Nasdaq under the symbol "DJT," said in an SEC filing it could issue an additional 21.5 million shares in the coming months. The filing showed a potential sale of 146.1 million shares of the social media company, including 114.8 million shares owned by Trump himself.

Also on Monday, Trump, the presumptive 2024 GOP presidential nominee, appeared in a New York City courtroom as jury selection began in a trial against him centered on hush money payments to Stormy Daniels. GET FOX BUSINESS ON THE GO BY CLICKING HERE Trump is the first former president ever to be criminally prosecuted. FOX Business' Lawrence Richard, Maria Paronich and Reuters contributed to this report.

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Truth Social parent company Trump Media & Technology Group to become publicly traded companyEXCLUSIVE: Shareholders voted Friday to make Trump Media & Technology Group, the parent company of Truth Social, a publicly traded entity, Fox News Digital has learned.
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