Trump Could Cash Out $3.2B Stake In Namesake Media Company And Still Maintain Voting Control
Portfolio Pulse from Chris Katje
Donald Trump's media company, Trump Media & Technology Group Corp (NASDAQ:DJT), has received SEC approval for a share offering filing. This allows Trump to potentially cash out his $3.2 billion stake while maintaining voting control. The news has led to a 13.8% drop in DJT's stock price.
June 20, 2024 | 4:39 pm
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Trump Media & Technology Group Corp (NASDAQ:DJT) received SEC approval for a share offering, allowing Trump to potentially cash out his $3.2 billion stake while maintaining voting control. The stock price has dropped 13.8% following the news.
The approval of the share offering filing allows for a significant increase in the public float, which could lead to further declines in the stock price. Trump's ability to cash out his stake while maintaining control adds uncertainty to the stock's future performance.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100