Trump Media Stock Price Plunge

SOURCE www.cnbc.com
Trump Media's stock price plunged by more than 17% in after-hours trading after the SEC declared registration of additional shares effective. The company anticipates raising up to $247 million in proceeds if all warrants are exercised. CEO Devin Nunes expects to pursue TV streaming and potential mergers with the funds.

Key Points

  • SEC declared registration of additional shares effective
  • Potential $247 million in proceeds if warrants are exercised
  • CEO Devin Nunes plans to pursue TV streaming and potential mergers

Pros

  • Potential raise of up to $247 million in proceeds through warrant exercises

Cons

  • Stock price plunged by more than 17% in after-hours trading