What's Going On With Trump Media Stock Tuesday?
Portfolio Pulse from Adam Eckert
Trump Media & Technology Group Corp (NASDAQ:DJT) shares are trading lower on Tuesday after a significant rise on Monday. The decline follows a prospectus filing for the resale of 37.97 million shares. The company has a standby equity purchase agreement with Yorkville for up to $2.5 billion worth of stock. The stock surged on Monday due to increased odds of Donald Trump winning the 2024 election after an assassination attempt. Trump Media is trending on social media platforms.
July 16, 2024 | 1:55 pm
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Trump Media & Technology Group Corp (NASDAQ:DJT) shares are down 4.9% after filing a prospectus for the resale of 37.97 million shares. The stock had surged over 31% on Monday due to increased odds of Donald Trump winning the 2024 election following an assassination attempt.
The filing for the resale of a large number of shares typically leads to a decline in stock price due to potential dilution. The previous day's surge was driven by external political events, which may not sustain the stock's momentum.
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