Shares of Trump Media have fallen 50% since Trump’s conviction, near an all-time low

Trump Media & Technology Group Shares fell 14% Thursday afternoon as the company’s shares continue their downward trajectory.

Shares of Trump Media, the company behind former President Donald Trump’s social media site Truth Social, were trading at around $26.92 mid-day as they neared the stock’s all-time low of 22, 55 dollars. Stock down about 50% since Trump was convicted of 34 felony charges on his trail of quiet money from New York.

The former president is the majority shareholder of Trump Media, owning nearly 65% ​​of the company’s outstanding common stock as of June 10.

Shares of Trump Media, which trades on Nasdaq under the symbol DJT, fell nearly 10 percent on Tuesday after the Securities and Exchange Commission approved the company’s request to register additional shares — including allowing its early investors who own derivatives in the company to turn into actions. While Trump Media said exercising all the warrants could give it a $247 million boost, it also has the potential to dilute the stock.

Markets were closed Wednesday for the Juneteenth holiday.

Trump Media said on April 15 that it was recording the resale of up to nearly 21.5 million new shares of common stock issuable upon the exercise of warrants, up to approximately 146 million shares of common stock and up to approximately 4 million shares of common stock to purchase.

Last Monday, Trump Media filed a registration statement with the SEC that included a re-auditing the company’s financial statements from December 31, 2023 and December 31, 2022. The audits were conducted by Trump Media’s new accountant, Semple, Marchal & Cooper (SMC), which replaced its former audit firm BF Borgers last month after the regulator. permanently banned the company from working as accountants.

The confirmed audited finances that Trump Media suffered a net loss of $58.2 million during the 12 months ended on 31 Dec.