Truth Social Stock Crashes as Donald Trump Maneuvers to Sell His Own Stock

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Shares of Donald Trump's social media stocks fell again today, falling more than 16% Monday morning.

The timing of the latest bombing is particularly interesting: It comes after Trump took the first steps to withdraw his funds, likely leaving investors who have already seen their holdings plummet high and dry.

As Bloomberg reports, Truth Social's owner, Trump Media & Technology (TMTG), has filed to register shares, including those tied to warrants, a sign that Trump and other executives plan to collect much earlier than September, when the mandatory six. The month of suspension of sales would be over.

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The news comes after TMTG shares suffered a precipitous decline, crashing to less than $27, half of what they were worth at the time of the merger last month.

The drop caused the former president's net worth to drop by billions of dollars in just three weeks.

Despite the bleak outlook, Trump and his aides may still hold on to millions of shares, likely planning to sell them for several hundred million dollars, according to Bloomberg.

The company, however, still needs approval from the U.S. Securities and Exchange Commission.

Trump would also need the green light from TMTG's board before selling, which shouldn't be too difficult, given his personal position.

Analysts said investors looking to grow their money should stay away from the former president's meme stocks, calling them a “scam.”

Supporters, however, seized the opportunity to line Trump's pockets and help him in his quest to win re-election later this year.

They're right that Trump could definitely use a cash infusion right now, investors be damned.

More from Trump Media: Trump supporters are horrified as the value of their 'Truth Social' stocks evaporates

Sources 1/ https://Google.com/ 2/ https://finance.yahoo.com/news/truth-social-stock-crashes-donald-170020178.html The mention sources can contact us to remove/changing this article

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