Trump Media stock slides again to bring it nearly 60% below peak
Time:2024-05-21 08:04:38 Source:styleViews(143)
NEW YORK (AP) — The stock price for Donald Trump’s social media company slid again Monday, pushing it nearly 60% below its peak set late last month.
Trump Media & Technology Group was down 16.8% at $27.10 in midday trading as more of the euphoria that surrounded the stock fades. It’s a sharp comedown since nearing $80 after the owner of Truth Socialmerged with a shell company to get its stock trading on the Nasdaq under the symbol “DJT,” for Trump’s initials.
Part of the decline may be due to criticism that the stock price had zoomed way past what skeptics said the money-losing company is worth, particularly one with tough odds for success. But another part is also likely because of action Trump Media took Monday.
The company filed documents with the U.S. Securities and Exchange Commission that open 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.
Previous:Socialite Jasmine Hartin enjoys beach snuggle with electrician hunk
Next:Everybody may love Raymond, but Ray Romano loves Peter Boyle
You may also like
- Storms damage homes in Oklahoma and Kansas. But in Houston, most power is restored
- Joe Biden wins Democratic primary in Puerto Rico
- Nurse hat trick helps Toronto clinch top
- German police arrest a Russian man in connection with the fatal stabbings of 2 Ukrainian men
- Bella Hadid goes braless in a thigh
- Inter Milan celebrates winning Serie A title with victory over Torino
- Estrada, Yastrzemski hit back
- Have you heard the one about Trump? Biden tries humor on the campaign trail
- Lynn Williams breaks NWSL goal