In Reply to: DJT down 18.35% today posted by DSCBruin on April 15, 2024 at 13:18:20
According to Yahoo Finance they did a secondary offering today and that's why it tanked. Trump wanted extra shares because in the original deal Trump was to get an extra 36K shares if the price stays above 17.50 for X days, and I don't know what X is.
But Trump panicked at the plunge was afraid it was going to go below 17.50 and he'd lose those shares, so they did a secondary offering to get him more shares another way. And in doing so, almost guaranteed it goes below 17.50. And the SEC is holding up the secondary, because they have to approve the allotment of new shares, and they're already investigating the stock for fraud.
So in an attempt to be greedy and get more shares, he likely guaranteed he won't get more shares,
Financial genius