Trump Media shares (DJT) have been falling almost steadily after the initial euphoria when some investors and Trump followers bought the stock at a high during and after its public offering. Trump saw a surge in the value of his stocks at Trump Media with the ticker DJT, valued at over $5.6 billion in early June. The value of his stock in the company behind his social media platform, Truth Social, is worth approximately $3 billion on paper, and Thursday, the market closes.
Former President Donald Trump is the largest shareholder of Trump Media. The stock closed almost 15 percent down on Thursday’s market close. Trump Media stock has been volatile since trading on the Nasdaq as DJT.
DJT stock has been plummeting after Trump was declared a felon after his conviction on 34 counts of falsifying business records.
On Tuesday, after the market closed, Trump Media & Technology Group (TMTG) announced that the Securities and Exchange Commission (SEC) had declared its registration statement for resale shares and warrants effective.
By exercising the warrants, the company can issue up to 14.4 million common shares and sell up to 146.1 million shares. ARC Global Investments owns 13.1 million shares and has a 7.3 percent stake in the Truth Social parent company.
CWEB reports that Donald Trump remains the largest shareholder and owns 64.9 percent of TMTG common stock, per the filing. The filing shows Trump’s 114,750,000 shares have been registered.
Trump received 78,750,000 shares when the company went public, and 360,000 earned out shares based on the stock performance.
Trump will maintain control over TMTG, as he has a special voting class of shares, even if he sells his common stock. If he holds on to the higher class shares, he will continue to have 55 percent voting power.
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