Trump Media stock plunges after company issues more shares

Trump Media shares plummeted more than 13 per cent on Monday after the company filed to register millions of additional shares – the latest development in the stock’s struggle.

The fall arrives the same morning the former president headed to Manhattan Criminal Court for jury selection in his criminal trial. Donald Trump is the majority stakeholder in the company.

Trump Media & Technology Group (TMTG), the parent company of Truth Social, filed a preliminary plan to register 21.4 million more shares of common stock, including those helped by insiders and linked to warrants.

Issuing new stock could devalue the existing shareholders’ stock.

This is a breaking news story, more follows…