Trump Media -Sharing price: The stock price of Trump Media and Technology Group fell by more than five percent on Wednesday 2 April, prior to the long -awaited mutual rates of US President Donald Trump. The media company has also announced in a effects that submit the possibility of significant share sales, including by Insider shareholders such as the trust of the US President.
The parent company of Truth Social said in a submission of 1 April that the company would soon be able to sell around 8.4 million ordinary shares with regard to existing warrants published during the IPO.
The company said that insiders and major stakeholders can also sell up to around 134 million shares “from time to time”. This includes the more than 114 million shares of the Donald J. Trump Revocable Trust. The shares fell by approximately 5% in the afternoon trade.
President Donald Trump has previously said that he is not going to sell his interest in the company. His son Donald Trump Jr. is in charge of the revocable trust.
“The sale of the resale effects that are offered on the basis of this prospectus, or the perception that these sales could occur, can lead to a significant decrease in the public trading price of our ordinary shares,” warned the prospectus.
The company said that the total available resale shares amounted to 129.2% of the company’s public float, which is a benchmark for the amount of the shares currently available for trade. In a statement, the company said that the submission does not indicate that the sale of prior knowledge is planned.
