Trump Plans to Sell $2 Billion in Media Shares

Shares of Trump Media and Technology Group (TMTG) have fallen over 5% following news that the company filed to re-register almost 115 million shares held in a trust controlled by Donald Trump Jr., which could potentially lead to a sale of Trump's $2 billion stake. Although the registration allows for the sale of shares, Trump has consistently stated he has no intention of selling, asserting he doesn't need the money. The SEC filing has raised investor concerns about a possible sell-off, which could further depress the stock's price, already down approximately 40% this year. TMTG described the filing as routine and emphasized that there is currently no plan for the trust to sell shares. As the largest shareholder with about 53% of TMTG, Trump has previously indicated that he wishes to maintain his stake in the company to ensure his voice remains active on its platform. The stock's volatility reflects broader market trends and investor sentiments regarding Trump's media endeavors.