Trump's Media Company Stock Plunge Erodes Ex-President's Net Worth By Over $2.5B In June: Here's How Much He's Worth Now
Portfolio Pulse from Shanthi Rexaline
Shares of Trump Media & Technology Group Corp. (NASDAQ:DJT) fell nearly 15% on Thursday, significantly impacting Donald Trump's net worth, which dropped by $523 million. The decline follows the SEC's approval of a shelf registration statement, allowing the company to offer additional shares and warrants. Trading volume was notably high, and the stock has been on a downtrend since June, exacerbated by Trump's legal issues.
June 21, 2024 | 9:20 am
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Shares of Trump Media & Technology Group Corp. (NASDAQ:DJT) fell nearly 15% on Thursday, significantly impacting Donald Trump's net worth, which dropped by $523 million. The decline follows the SEC's approval of a shelf registration statement, allowing the company to offer additional shares and warrants. Trading volume was notably high, and the stock has been on a downtrend since June, exacerbated by Trump's legal issues.
The sharp decline in DJT shares is primarily due to the SEC's approval of a shelf registration statement, allowing the company to offer additional shares and warrants. This has raised concerns about dilution among investors. Additionally, the high trading volume indicates strong selling pressure. The ongoing downtrend since June, exacerbated by Trump's legal issues, further contributes to the negative sentiment.
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