Trump Media plunges amid plan to issue more shares. It’s lost $7 billion in value since its peak.
After a short-lived honeymoon, former President Donald Trump's media company is experiencing a rough reception on Wall Street. Trump Media & Technology Group — which trades under the ticker DJT, his initials — tumbled 18.4% in Monday trading, a drop that follows last week's 21% plunge. The sharp drop in value comes after Trump Media, whose primary asset is Truth Social, the social media platform, on Monday filed a document with the U.S. Securities and Exchange Commission that opens the door for the future potential sale of millions of shares. The document, called an S-1, relates to warrants held by investors that can be transformed into shares of stock, as well as shares held by company insiders.The filing also includes all the shares held by the former president. Trump, however, rema...