Trump Media and Technology Group Corp. Files for Major Stock Sale

In a significant move, Trump Media and Technology Group Corp., the entity behind the Truth Social platform, has submitted documentation to the United States Securities and Exchange Commission (SEC). The filing, made on Wednesday, seeks permission for a trust under the leadership of US President Donald Trump to sell approximately 115 million shares. This transaction is valued at over $2.3 billion.

Market Reaction: Following the announcement, Trump Media's stock experienced a notable decline, dropping by 7.33% to $18.77 per share by 10:03 am ET.