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

In a significant move, Trump Media and Technology Group Corp., the powerhouse behind the Truth Social platform, has submitted documents to the United States Securities and Exchange Commission (SEC). The filing 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, marking a pivotal moment for the company.

Market Reaction to the Announcement

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. This reaction highlights the market's sensitivity to the potential sale and its implications for the company's future.