Trump Media (DJT) Files to Re-Register $2.3 Billion in Shares for Possible Sale

Trump Media (DJT) Files to Re-Register $2.3 Billion in Shares for Possible Sale

TLDR:

• Trump Media & Technology Group filed to re-register shares worth approximately $2.3 billion that would allow President Trump’s trust to sell stock
• The company’s stock fell more than 7% following the filing announcement
• Trump owns approximately 53% of Trump Media through a trust controlled by Donald Trump Jr.
• The company insists this is a “routine filing” and there is “no open window for any affiliate to sell shares”
• Trump Media’s stock has declined approximately 40-50% since the beginning of 2025

Trump Media & Technology Group, the parent company of President Donald Trump’s social media platform Truth Social, has filed paperwork with the Securities and Exchange Commission (SEC) to re-register shares that would allow the president’s trust to potentially sell stock. The filing, submitted on Monday, covers shares worth approximately $2.3 billion at current prices.

The company’s stock dropped 7.4% to $18.76 on Wednesday following the announcement. This continues a downward trend for the company, whose shares have fallen approximately 40% since the beginning of 2025.

President Trump is the largest shareholder in Trump Media, controlling roughly 53% of its shares through the Donald J. Trump Revocable Trust. The trust is controlled by his eldest son, Donald Trump Jr., following the transfer of shares after Trump won the presidential election last year.

In a news release, Trump Media emphasized that the filing was “a routine filing that re-registers” shares for future sale. The company stated that these shares were already registered last June on an S-1 form, and today’s submission was to keep the company’s filings effective.

“There currently is no open window for any affiliate to sell shares,” the company clarified in its statement. President Trump has previously stated on several occasions that he had no plans to sell his shares in the company.

Beyond the President’s Stake

The filing also registered for sale shares held by other shareholders. Among them is Yorkville Advisors, an investment firm in New Jersey that is collaborating with Trump Media to create retail investment products, including a crypto exchange-traded fund.

U.S. Attorney General Pam Bondi also holds 106,000 shares in the company. Bondi acquired these shares in exchange for consulting work she performed for a shareholder of the special purpose acquisition company (SPAC) that Trump Media merged with to go public.

In her ethics agreement filed with the federal Office of Government Ethics, Bondi has committed to divest herself of her equity stake in Trump Media within 90 days of her confirmation, which would be in early May.

Financial Performance Concerns

Trump Media has faced challenges in demonstrating strong financial performance. The company posted sales of only $3.6 million for all of 2024 and reported a net loss of more than $400 million.

The company’s stock is now trading approximately 75% below its peak of just under $80 that it hit shortly after completing its merger with Digital World Acquisition Corp in March 2024.

There is limited major institutional investor support for the company. Only a handful of top firms own shares of Trump Media in passively-managed funds, primarily because the company is included in the Russell 1000 and Russell 3000 indexes.

New Developments and Competition

Earlier this week, Trump Media announced its debut on the New York Stock Exchange’s new NYSE Texas exchange. While it was the first company to list there, Trump Media maintains its primary listing on the Nasdaq Stock Market.

The company recently announced a partnership with Crypto.com to launch exchange-traded funds for Bitcoin and other crypto assets.

Trump Media now faces new competition in the market from Newsmax, a conservative-leaning cable TV and social media company that went public this week. Newsmax shares experienced extreme volatility, soaring on Monday and Tuesday before plunging nearly 80% on Wednesday. Despite this drop, Newsmax’s stock remains up more than 425% from its initial offering price.

Trump Media has been a popular stock among retail investors and has experienced wild price swings, particularly around the U.S. election in November last year. The stock surged 30% in September after Trump stated he would not sell his shares in the company.

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