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The stock price of Trump Media plunged by more than 17% in after-hours trading Tuesday after the Truth Social app owner said its registration of additional shares had been declared effective by the Securities and Exchange Commission.
Trump Media, which trades under the DJT ticker, had seen its share price slump by nearly 10% during the regular trading day.
The SEC’s declaration authorizes early investors in Trump Media to exercise public warrants they hold in the company, whose majority shareholder is former President Donald Trump.
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Source Agencies
