Donald Trump’s media company, Trump Media and Technology Group (TMTG), saw its stock price drop by 7.4% after a regulatory filing revealed that Trump might sell his shares worth $2.3 billion. This filing came just as investors braced for economic changes due to his upcoming “liberation day” tariffs.
The SEC filing mentioned that Trump wants to sell over 142 million shares, including 114 million shares he personally owns, which are managed by his son, Donald Trump Jr. Other shareholders, like US attorney-general Pam Bondi and TMTG chair Devin Nunes, are also planning to sell 134 million shares. TMTG is even issuing 8.4 million new shares.
Even with the news about share sales, TMTG tried to calm worries by saying the filing was a regular procedure and didn’t mean Trump would definitely sell his shares. The company’s stock has dropped more than 40% this year due to concerns over Trump’s trade strategies that could hurt the US economy.
Later today, Trump is expected to announce his new “reciprocal” tariffs in a ceremony at the White House, calling it “liberation day.” TMTG stock had previously risen when Trump said he wasn’t selling his shares, but trading was stopped on that day, making him question why.
Recently, TMTG became the first company to list on the New York Stock Exchange’s Texas-based platform, but it still trades primarily on Nasdaq. Although TMTG lost $19.2 million in the third quarter, it has about 650,000 shareholders who support Trump. Most of these shareholders are small investors, with only about 2,100 owning more than 5,000 shares.
As the situation with Trump’s shares and his new tariffs unfolds, investors remain anxious.
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