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submitted 7 months ago by MicroWave@lemmy.world to c/news@lemmy.world

Trump Media & Technology Group’s stock is tumbling again after the company announced a massive new influx of shares. The struggling company is rapidly losing money, and a new stock offering could help it stay afloat.

But there’s a downside to going back to the market with new shares: A new public stock offering of 21.5 million shares announced Monday would add more than 15% more stock to the publicly available shares of the Truth Social owner. That would substantially devalue existing shareholders’ stakes — including that of former President Donald Trump.

Shares of TMTG (DJT) fell more than 15% Monday. The stock had rocketed higher in recent months in anticipation of merging a blank-check acquisition company with Trump’s media business. But it has lost more than 60% of its value from its peak on March 26, the day after the merger was completed and it started trading publicly as TMTG.

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[-] TropicalDingdong@lemmy.world 49 points 7 months ago

No. Usually if you are running for president, you put your investments into a blind trust.

what with his faith in humanity and all.

The 70's are over. Carter putting the farm in a blind trust was rewarded with Republicans bribing Iranian terrorists to keep the hostages longer. Disco is dead.

[-] SeaJ@lemm.ee 23 points 7 months ago

The 70s, the 80s, the 90s, and the 2000s. Presidents aside from Trump have always put their investments in a blind trust.

[-] RizzRustbolt@lemmy.world 4 points 7 months ago

Disco didn't die. It evolved.

this post was submitted on 15 Apr 2024
454 points (97.1% liked)

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