Shares of the media group founded by Donald Trump, Trump Media & Technology Group (TMTG), are currently suffering significant losses. This is reported by the newspaper Handelsblatt. On Tuesday, around 1:30 p.m., the TMTG#chartIcon newspaper was trading at $26.61, losing a good 18 percent compared to the previous day.
The background to the price drop according to the report: the parent company of Trump's online network “Truth Social” could be preparing a share sale. According to a filing with the U.S. Securities and Exchange Commission (SEC), current owners could put up to 146.1 million shares up for sale.
Donald Trump owns almost 60 percent of TMTG shares
According to the report, the shares that Donald Trump himself owns in TMTG are of particular importance. Trump is the largest shareholder, owning almost 60 percent of all shares. A current agreement stipulates that Trump will not be able to sell his shares for the next five months.
It remains uncertain whether Trump will honor the agreement or try to sell his shares. According to the report, the US Securities and Exchange Commission (SEC) may soon examine TMTG's documents in more detail.
Donald Trump Stocks Suffering Massive Losses
Many of the current investors are Trump supporters. They consider buying shares to be a sign of support for the Trump campaign. TMTG is under financial pressure: in early April, the company posted a loss last year of about $58 million on sales of just $4 million.
The serious loss of value of TMTG shares in Trump's portfolio is significantly affecting his financial situation, he said. The stock has lost a good 60 percent of its value since its peak in March. According to information from March 28, Trump owns around 78.75 million shares, which at the close of trading on Monday were worth about 2.1 billion euros. The current price losses of a good 18 percent reduce the value of Trump's securities by around 380 million euros.
That's a significant portion of Trump's total wealth. The American website Forbes estimates the former president's worth at about four billion dollars.
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