Why Trump Media Stock Plummeted Today
Shares of Trump Media & Technology Group (NASDAQ: DJT) sank on Tuesday. The company's stock plummeted 10.4% as of market close. The fall comes as the S&P 500 jumped 2% and the Nasdaq Composite fell 2.4%.Trump Media announced on Tuesday that it is raising $2.5 billion to create what would be one of the largest Bitcoin reserves in the world held by a public company.Following in the footsteps of Strategy, Trump Media is betting a massive reserve of Bitcoin will drive value. The company announced it had entered into a deal with institutional investors to raise $2.5 billion in exchange for $1.5 billion in stock and $1 billion in convertible notes. Continue reading
Shares of Trump Media & Technology Group (NASDAQ: DJT) sank on Tuesday. The company's stock plummeted 10.4% as of market close. The fall comes as the S&P 500 jumped 2% and the Nasdaq Composite fell 2.4%.
Trump Media announced on Tuesday that it is raising $2.5 billion to create what would be one of the largest Bitcoin reserves in the world held by a public company.
Following in the footsteps of Strategy, Trump Media is betting a massive reserve of Bitcoin will drive value. The company announced it had entered into a deal with institutional investors to raise $2.5 billion in exchange for $1.5 billion in stock and $1 billion in convertible notes.
