The publicly traded stock representing Donald Trump's "media group" took another dive after Trump and the founders disclosed their intent to take the money and run.
The company's DJT, -16.88% S-1 filing with the Securities and Exchange Commission includes the potential sale of up to 114,750,000 shares held by former President Donald J. Trump.
That amount includes the 78,750,000 common shares he received after the merger with special-purpose acquisition company (SPAC) Digital World Acquisition closed on March 25. It also includes 36 million in "earnout shares," which may be issued to Trump depending on how the stock performs over the next three years.
MarketWatch
The only thing still propping the stock up may be that Trump & company are locked up until late September. There have been so many problems disclosed, in just the last week or two, about Truth Social and the Trump media group that no one can believe this is a long-term prospect. If Trump can't post from jail, this may soon be a moot point.
