Trump Media & Technology Group (DJT) stock continued to fall Tuesday after sinking 18% on news the parent company of Donald Trump's social media platform Truth Social had filed to issue more than 21 million shares.
Trump Media shares fell by more than 5% on Tuesday morning after the company announced its Truth Social platform is moving to launch a live TV streaming platform.
The stock slid to close at $26.61 on Monday in an extension of last week's sell-off and fell over 2% more in premarket trading.
Last week, shares tanked more than 20% in one day after an updated regulatory filing from the company showed Trump Media taking on heavy losses and facing "greater risks" associated with the former president's ties to the platform. Trump Media reported sales of just over $4 million as net losses reached nearly $60 million for the full year ending Dec. 31. The company warned it expects losses to continue amid greater profitability challenges.
Trump Media shares that day opened at more than $70 and soared to nearly $80.
Shares were selling for $25.11 as of 10:11 a.m. ET Tuesday. (Currently $23.87)
The company’s market capitalization has decreased by more than $5 billion since its stock began public trading on March 26 after a merger with shell company Digital World Acquisition Corp.
What do you think of this? Why? What's next?
I have seen more than a few posts about speculators buying in on day 1 and making big profits selling on day 4 or 5. It wasn't hard to see this coming.
GA
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