No. of Recommendations: 1
no sign of trump selling his stock,
" Trump Media & Technology Group Corp (DJT) , the operator of the Truth Social platform, is trading higher on Monday. Last week the company announced it expects to receive over $69.4 million from the cash exercise of warrants on June 20 and 21, 2024.
The cash exercise option became available after the Securities and Exchange Commission (SEC) declared the company’s registration statement effective on June 18, 2024,
TMTG revealed that if all warrants covered by the registration statement are exercised for cash, the company could receive up to approximately $247 million.
Additionally, the company will have $40 million of restricted cash become unrestricted due to the effectiveness of the registration statement. These funds add to the over $200 million in unrestricted cash already held by TMTG as of June 18, 2024.
The infusion of funds will likely support further development and expansion of its platforms, including Truth Social.
TMTG has experienced a significant decline in market value. The conservative social media company’s stock has dropped nearly 50% since May 30, following the conviction of former President Donald Trump on 34 felony counts in a hush money trial, CNN reports.
Despite the falling share price, experts warn that TMTG remains overvalued. Truth Social is a minor player in social media compared to platforms like Elon Musk's X, Reddit Inc(RDDT), and Meta Platforms Inc(META) Instagram Threads."
Some experts compare TMTG to meme stocks like GameStop Corp(GME) and AMC Entertainment Holdings, Inc(AMC) , which trade on momentum rather than fundamentals.
Trump, the dominant shareholder with 114.75 million shares, has seen his stake’s value drop from $6 billion to about $3.1 billion since late May. The company plans to use the funds raised to enhance its ad platform and explore potential mergers and acquisitions.
TMTG stock gained 118% in the last 12 months.
Price Action: DJT shares are trading higher by 7.12% to $29.63 premarket at last check on Monday.
No. of Recommendations: 2
AT 840 AM the volume is 12 million, stock up 5.80$$.
No. of Recommendations: 1
You didn't read what you shared.
" I guess this is a big surprise to some. Others know that he is prohibited from selling any shares until September."
"Shares of Trump Media sunk even lower last week, after its registration of additional shares was declared effective by the Securities and Exchange Commission. The clearance threatened to dilute the stock price by adding more tradable shares to the company’s float.
The registration allowed early investors to resell certain shares and exercise previously issued warrants. Stock warrants give their holder the ability to buy shares at a predetermined price within a certain time frame.
On Friday, Trump Media said it expected to rake in more than $69.4 million in proceeds from the warrants exercised on Thursday and Friday."
Perhaps you didn't understand what you read ? Read all the DJT filings, the legal work is very well done.
No. of Recommendations: 1
Up 8.25 on 16 million shares, WHO are the buyers ? The wts are going to get exercised, djt raises 240 million cash, then we wait for round two. This can be very dangerous stuff who are the buyers ??
