Truth Social, President Trump’s social media company, has filed paperwork with securities regulators that would allow its trust to sell nearly 115 million shares of stock. The move comes after the company’s stock rose significantly following Newsmax’s public offering on Monday.
The filing, made by Truth Media & Technology Group, allows various shareholders, including the Donald J. Trump Revocable Trust, to sell their shares at any time. However, the company says this is a routine filing and does not indicate an intention to sell.
If all registered shares were sold, it would nearly double the public float, potentially diluting existing holders. The value of Trump’s shares would be estimated at $2.3 billion at Tuesday’s closing price.
The news has led to a decline in Truth Social’s stock price, which fell 6.5% to $18.93 in early trading. This comes after the company’s stock rose from $10 to $233 in two days following Newsmax’s public offering.
This move by Trump’s social media company is seen as an indication of growing concerns over rising prices and a potential recession.
Source: https://www.axios.com/2025/04/02/trump-truth-social-stock