Stock Track | Trump Media & Tech Plummets 6.92% as Trump Transfers $4B Stake to Revocable Trust

Stock Track12-20 22:38

Trump Media & Technology Group, the parent company of Truth Social, saw its stock plummet by 6.92% in intraday trading on Friday. The drop came after news that President-elect Donald Trump had transferred his entire $4 billion stake, representing 53% of the company's shares, into a revocable trust.

According to SEC filings, Trump gifted 114.75 million DJT shares to the Donald J. Trump Revocable Trust earlier this week without receiving any consideration. While Trump is the sole beneficiary of the trust, his son Donald Trump Jr. holds the sole voting and investment power over the trust's securities.

The sudden transfer of Trump's substantial ownership in the company appears to have spooked investors, leading to Friday's stock plummet. Though Trump remains the indirect owner of the shares, the move raised concerns about potential changes in his involvement with Truth Social and the company's future direction under the trust's control.

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