Trump stock tanks after issuing tens of millions new shares
CNN
Trump Media & Technology Group’s stock is tumbling again after the company announced a massive new influx of shares.
Trump Media & Technology Group’s stock is tumbling again after the company announced a massive new influx of shares. A new public stock offering of 21.5 million shares announced Monday would add more than 15% more stock to the publicly available shares of the Truth Social owner. That would substantially devalue existing shareholders’ stakes — including that of former President Donald Trump. Shares of TMTG (DJT) fell 14% Monday in premarket trading. Trump currently owns more than 57% of the company’s shares. Unless he were to purchase stock in the new public offering, Trump would own just under half of the company’s publicly traded stock after it issues more shares. But the company needs money. It has said it has substantial doubt about its ability to continue operating. The company generates little revenue, it’s losing millions of dollars and it is losing many of its users as well. Although the share offering was not directly related to Trump’s criminal trial beginning Monday, the company noted in a warning to potential investors that Trump’s ongoing legal proceedings pose a risk to the company’s reputation and brand.
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Chili’s is on fire.
The DeepSeek drama may have been briefly eclipsed by, you know, everything in Washington (which, if you can believe it, got even crazier Wednesday). But rest assured that over in Silicon Valley, there has been nonstop, Olympic-level pearl-clutching over this Chinese upstart that managed to singlehandedly wipe out hundreds of billions of dollars in market cap in just a few hours and put America’s mighty tech titans on their heels.
The Federal Reserve kicked off its second Trump era right where it left off: Doing exactly what it wanted to do, ignoring President Donald Trump’s demands that it lower rates.
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Consumers and traders are waiting to learn if the Fed’s expected pause today is a one-meeting hold or the start of a longer stretch.
Elon Musk used his new government efficiency role to stop by the operations of his competitor Boeing to look into the long-delayed efforts to renovate two 747 jets into the next generation of Air Force One jets, Boeing CEO Kelly Ortberg said Tuesday.
Truth Social owner Trump Media & Technology Group announced Wednesday it plans to expand into financial services and potentially buy bitcoin and other cryptocurrencies.
Save the Music, the nonprofit foundation that grew in popularity on cable TV through in the late 1990s through the 2000s, is going indie.
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