Donald Trump kicks off sale of $2.3bn Truth Social stake

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The shares of the social media company in Donald Trump fell after the president opened the door to selling his share of $ 2.3 billion, just as global investors were preparing to target “Tahrir Day”.

The shares in the Trump group, the media and technology, which runs the social truth, decreased by 7.4 percent on Wednesday, after the company said in a file with the organizers that it had planned to sell more than 142 million shares.

The deposit at the Securities and Stock Exchange Committee showed late on Tuesday that Trump’s 114 million shares are included in the sale, which will be “from time to time in one or more offer.” The share value is about $ 2.3 billion and was held in a box controlled by his son Donald Trump Junior.

Playing shareholders, including the President, American Attorney General Bam Bondi, TMTG Devin Nunes, and a company registered in the Kayman Islands called Yorkville to sell a total of 134 million shares, and deposit offers. TMTG also plans to issue new 8.4 million shares.

In a publication on the social truth on Wednesday morning, Trump refused the media that its submission of securities was “paving the way for Trump to sell his shares.” The release bulletin was described as a “routine file”.

The shares in TMTG, which are traded under DJT TECKER, decreased by more than 40 percent this year amid a sale in the American stock market fueled by the agenda of the aggressive president for trade and fears that these fees are on some major trade partners in America will burden the world’s largest economy.

Later on Wednesday, which was called “Liberation Day”, Trump will announce his “mutual” new definitions in foreign countries at a ceremony in the White House park.

In September, DJT rose after Trump said he was not planning to sell any of his private shares in the company. Trading in stocks was temporarily stopped by Nasdak later that day.

Trump later accused Nasdaq of “taking orders” from SEC. The president said at that time, writing on the social truth [Nasdaq] Do you should do this? They did so twice today. What happens here? ”

Earlier this week, TMTG became the first collection to graduate on the Texas platform on the New York Stock Exchange, although its basic list will remain on the Nasdak Stock Exchange.

The stock has become a common way for individual investors to show their support for the president, although TMTG reported a net loss of $ 19.2 million in the third quarter. In October, the company said it has approximately 650,000 shareholders “with a unique profile that includes an overwhelming majority of retail investors.”

The company said: “Nearly 2,100 investors had more than 5,000 shares, and less than 1,000 investors have more than 10,000 shares.”