Former President Donald Trump arrives at court for the start of jury selection in his historic hush money trial, Monday, April 15, 2024 in New York. NEW YORK — The stock price for Donald Trump’s social media company slid again Monday, pushing it nearly 60% below its peak set late last month.Part of the decline may be due to criticism that the stock price had zoomed way past what skeptics said theis worth, particularly one with tough odds for success.
The filing also includes all the shares held by the former president. Trump, though, remains under a “lock-up” deal thathis shares for another roughly five months. His son, Donald Trump Jr., who is a director on the board, and CEO Devin Nunes, are also bound by the lock-up.
Trump Media got its place on the Nasdaq after merging with a company called Digital World Acquisition Corp., which was essentially a pile of cash looking for a target to merge with. It’s an example of what’s called a special purpose acquisition company, or SPAC, which can give young companies quicker and easier routes to getting their shares trading publicly.
The exercise of warrants referenced in Trump Media’s S-1 filing would increase the number of shares outstanding for the company. That in turn could put downward pressure on the stock price. When something becomes more available, it tends to fall in price unless demand for it picks up accordingly.
Source: News Formal (newsformal.com)
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