Reported 8 months ago
Shares of Trump Media & Technology Group Corp. dropped in late trading following the SEC declaring a regulatory filing effective, allowing holders of the firm's derivatives to swap for shares, potentially diluting long-time investors. The company, mainly owned by former president Donald Trump, experienced a 15% decline to around $26 in late trading, contributing to a 36% decrease this month. The issuance of more shares could add up to $247 million to Trump Media's balance sheet but also increase the trading stock pool, putting downward pressure on the stock price.
Source: YAHOO