The Truth social network logo is seen in this photo illustration on December 4, 2023 in Warsaw, Poland.
Jaap Arriens | Nuphoto | Getty Images
Actions of Trump Media soared 15% at market open Monday, as the company majority-owned by former President Donald Trump looked to rebound after a multi-week slump that cut the stock price by nearly half.
Trump Media, which does business as DJT on the Nasdaq, was trading around $31 a share at the start of the trading day, after closing Friday at just over $27.
The gains are good news for the company behind Truth Social, which has seen its stock price fall nearly 50% in the roughly three weeks since a New York jury found Trump guilty of 34 counts of charge of falsifying business records.
Shares of Trump Media fell further last week after the registration of additional shares was declared effective by the Securities and Exchange Commission. This authorization threatened to dilute the stock price by adding more tradable shares to the company’s float.
This is developing news. Please check again for updates.
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