Truth Social filing would allow Trump's trust to sell up to $2.3 billion in stock
President Trump's social media company took a major financial step on Wednesday, filing documents with securities regulators to permit Trump’s trust to sell nearly 115 million shares of company stock.
Why it matters: Truth Social could be aiming to ride the wave of enthusiasm sparked by Newsmax, the conservative media outlet that went public on Monday and saw its stock skyrocket from $10 to $233 in just two days.
Driving the news: Trump Media & Technology Group—the parent company of Truth Social—submitted a registration statement to the SEC. This move would allow a wide range of shareholders to sell their stock periodically, signaling potential shifts in the company’s financial strategy.
