Shares of Trump Media and Technology Group (TMTG) tumbled on Wednesday after a regulatory filing revealed that the U.S. President Donald Trump is preparing to sell his entire $2.3 billion stake in the company. According to the Financial Times, TMTG’s stock, which trades under the ticker DJT, fell as much as 8% following the announcement.
The filing with the Securities and Exchange Commission (SEC) shows that more than 142 million shares will be made available for sale, including Trump’s personal 114 million shares, which are held in a trust managed by his son, Donald Trump Jr. Other shareholders, including a Cayman Islands-registered entity called Yorkville, will also seek to offload their stakes. In addition, TMTG plans to issue 8.4 million new shares.
This sharp drop in share price adds to an already difficult year for TMTG, which has seen its stock plummet over 40% amid broader market concerns and Trump’s aggressive trade policies. The president is set to announce his new “reciprocal” tariffs on foreign countries in a White House Rose Garden ceremony later on Wednesday—an event he has labeled “liberation day.”
Trump Media, which owns the social media platform Truth Social, has struggled financially despite attracting strong support from individual investors. The company reported a net loss of $19.2 million in the third quarter, yet it continues to have a large retail investor base. In October, TMTG disclosed that it had around 650,000 shareholders, most of whom are small-scale investors.
Despite earlier claims that he would hold onto his stake, Trump’s decision to sell signals a potential shift in strategy. His previous comments on Nasdaq’s temporary halting of DJT trading, where he accused the exchange of “taking orders from” the SEC, suggest an ongoing tension between Trump and financial regulators.
TMTG recently became the first company to list on the New York Stock Exchange’s Texas platform, though its primary listing remains on Nasdaq. As Trump moves forward with the sale, investors will be watching closely to see how the market reacts to this significant shift in ownership.
