Trump Media Shares Plummet Amid SEC Filing and Legal Woes

Stock of Trump's social media company continues sharp decline following SEC decision and former president's felony conviction.

Trump Media stock fell nearly 10% on Tuesday, continuing its downward trend since Trump's conviction.
The SEC declared effective Trump Media's registration of additional shares, leading to potential equity dilution.
The company's stock has dropped about 40% since the May 30 conviction of Donald Trump on 34 felony counts.
Trump Media reported a net loss of $327.6 million in the first quarter of 2024.
Truth Social has struggled to maintain its user base, further impacting investor confidence.