Trump Media & Technology Group Stock Is Tumbling Thursday: What's Going On?
Portfolio Pulse from Adam Eckert
Trump Media & Technology Group Corp (NASDAQ:DJT) shares are trading lower after the SEC declared effective the company’s registration statement on Form S-1 related to the resale of shares and warrants. The registration allows for the issuance of up to 14.4 million common shares and the resale of 146.1 million shares, including 78.8 million held by Trump. The company may receive up to $247 million if all warrants are exercised for cash.
June 20, 2024 | 1:26 pm
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Trump Media & Technology Group Corp (NASDAQ:DJT) shares are down 9.93% after the SEC declared effective the company’s registration statement on Form S-1. This allows for the resale of shares and warrants, potentially leading to dilution.
The SEC's approval of the registration statement allows for the resale of a significant number of shares and warrants, which could lead to dilution and is likely causing the stock price to drop.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100