So, the company is tumbling. A sell-off to have cash at hand. edition.cnn.com/...
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New YorkCNN —
Trump Media & Technology Group’s stock is tumbling again after the company announced a potentially 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 more shares: The addition of 21.5 million shares for sale 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. And it means that millions of shares could be sold off.