this post was submitted on 15 Apr 2024
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News

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Trump Media & Technology Group’s stock is tumbling again after the company announced a massive new influx of shares. The struggling company is rapidly losing money, and a new stock offering could help it stay afloat.

But there’s a downside to going back to the market with new 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 more than 15% Monday. The stock had rocketed higher in recent months in anticipation of merging a blank-check acquisition company with Trump’s media business. But it has lost more than 60% of its value from its peak on March 26, the day after the merger was completed and it started trading publicly as TMTG.

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[–] gregorum@lemm.ee 143 points 7 months ago (2 children)
[–] metallic_substance@lemmy.world 29 points 7 months ago* (last edited 7 months ago) (2 children)

Someone should tell that tardigrade that's not where you position the bow when playing violin

[–] bradorsomething@ttrpg.network 36 points 7 months ago

You’re thinking of a human grade violin. This one is tardigrade.

[–] gregorum@lemm.ee 28 points 7 months ago (3 children)

lmao, every time...

in before someone notices it's a cello, lol

[–] flicker@lemmy.world 8 points 7 months ago

Dammit I was so excited to tell that person it was a cello!

That tardigrade is so jazzy right now.

[–] Djtecha@lemm.ee 7 points 7 months ago (1 children)

But... You still wouldn't be playing below the bridge

[–] RizzRustbolt@lemmy.world 2 points 7 months ago

Some folks did.

Weird folks. But folks nonetheless.

[–] Daft_ish@lemmy.world 4 points 7 months ago (1 children)

If the difference between a violin and a cello is its size, who knows wtf that is.

[–] Rubanski@lemm.ee 2 points 7 months ago