The company behind Donald Trump ’s Truth Social has been public for just a few weeks, but the stock price has plunged 50% from its first full day on the market. Trump Media filed with the SEC on Monday to issue 21 million more shares of DJT stock, and made the first steps towards allowing Trump to resell some of his own shares, according to Bloomberg. DJT ’s stock price dipped by almost 15% to $27.52 on Monday morning.
Trump responded to Moss and Litinsky’s February lawsuit by suing them back a month later claiming they failed to properly set up Trump Media. At the moment, Trump Media is caught in a complicated web of legal battles between co-founders, major investors, and the SPAC that Trump Media was borne out of, The Washington Post reports. The former President’s stake in Truth Social’s parent company has lost roughly $2 billion since March 28, when DJT’s price closed at $58.
Source: News Formal (newsformal.com)
DJT Business Finance Business Career Of Donald Trump Wesley Moss Trump Media & Technology Group Personal And Business Legal Affairs Of Donald Tru Donald Trump Truth Social Trumpism False Or Misleading Statements By Donald Trump The Trump Organization Andrew Litinsky Gizmodo
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