Trump Media and Technology Group (TMTG) has experienced a significant decline in its stock value, with shares plummeting more than 60% from recent highs. The downturn follows the company's filing of an S-1 document to issue up to 21.5 million shares of common stock. This filing has led to a pre-market drop of 17.80%. Additionally, the company outlined a new incentive plan where it could earn up to 40 million new earn-out shares if its stock trades above $17.50 for 30 consecutive days by April 23. However, the stock is currently trading significantly lower, around $26.88, down from a local high of $75. The market cap has also decreased sharply from $10.85 billion to $3.51 billion, and the stock now trades at 850 times sales. David Faber discussed the implications for shareholders and the potential impact on former president Donald Trump.
Trump Media stock is down 68% from the peak on March 26 w/ its market cap moving from $10.85 billion to $3.51 billion. It now only trades at 850x sales. $DJT https://t.co/6wKaJmFT6g
Trump Media's stock is down 68% from the peak on March 26 w/ its market cap moving from $10.85 billion to $3.51 billion. It now only trades at 850x sales. $DJT https://t.co/9xQ1RB52UH
$DJT slid after an SEC document to issue shares was filed. @davidfaber breaks down the implications foor shareholders and what it could mean for former president Donald Trump. https://t.co/Vy0qw4KCsG
Trump Media & Technology Group Corp (DJT) 26.88 -5.71 (-17.52%) 13:49 ET @MyCallSystem Puts at $59 now $26.81 Puts signals up over 500% on some puts
Trump stock continues to drop. Down from $75 local high when the ticker changed to DJT less than 2 weeks ago. https://t.co/SnwSGphawz
$DJT stock looks a lot like Trump's polling numbers https://t.co/DgJpYeGcgT
$DJT -15% pre market
$DJT 🔴 -17.80% in pre-market this morning after filing prospectus to issue up to 21.5M shares of common stock. The stock is down over -60% off its highs in the last two weeks. https://t.co/zvE6stxWKZ
$DJT filed S-1 -10% https://t.co/DpRjtS9rLa
$DJT - Trump Media and Technology Group will aware 40 million new earn-out shares if the stock can trade above $17.50 for 30 days (April 23) -If Trump Media trades above $15, the group will get 30 million shares to split -If the shares fall toward $12.50 the payout drops to 15…