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Trump Media stock plummets after company files to issue millions more shares

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Trump Media & Technology Group’s (TMTG) stock price plunged by more than 15% on Monday after the parent company of former President Donald Trump’s Truth Social platform filed to sell millions more shares.

TMTG, which trades on the Nasdaq under the symbol “DJT,” said in an SEC filing it could issue an additional 21.5 million shares in the coming months.

The Truth social network logo is seen on a smartphone in front of a display of former President Donald Trump in this picture illustration taken Feb. 21, 2022. (REUTERS/Dado Ruvic/Illustration / Reuters Photos)

The filing showed a potential sale of 146.1 million shares of the social media company, including 114.8 million shares owned by Trump himself. 

TRUMP TO BE DEPOSED IN DISPUTE WITH MEDIA COMPANY CO-FOUNDERS

The additional shares could be sold upon the exercise of certain warrants issued when the company went public through a blank-check merger with Digital World Acquisition Corp.

Ticker Security Last Change Change %
DJT TRUMP MEDIA & TECHNOLOGY GROUP CORP 27.76 -4.83 -14.82%

Trump Media & Technology Group

Shares of TMTG have retreated sharply since their market debut on March 26, falling 60% from the opening price of $70.90.

TRUMP CALLS HUSH MONEY TRIAL ‘ASSAULT ON AMERICA’ AS CASE OFFICIALLY KICKS OFF

Also on Monday, Trump, the presumptive 2024 GOP presidential nominee, appeared in a New York City courtroom as jury selection began in a trial against him centered on hush money payments to Stormy Daniels.

Former President Trump in court

Former President Donald Trump appears ahead of the start of jury selection at Manhattan Criminal Court on April 15, 2024, in New York City. (Jabin Botsford-Pool/Getty Images / Getty Images)

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Trump is the first former president ever to be criminally prosecuted.

FOX Business’ Lawrence Richard, Maria Paronich and Reuters contributed to this report.



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O’Leary details why the US needs a crypto czar: ‘We’ve got to stop these shenanigans’

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O’Leary details why the US needs a crypto czar: ‘We’ve got to stop these shenanigans’
O’Leary details why the US needs a crypto czar: ‘We’ve got to stop these shenanigans’


Weighing in on rumblings around a potential Trump-appointed crypto czar, popular entrepreneur Kevin O’Leary called on whoever’s nominated to put an end to regulatory indecision.

“We’ve got to stop these shenanigans because this is a technology that affects all 11 sectors of the economy,” O’Leary said Thursday on “Fox & Friends.”

“It provides efficiency and digital payment systems. And we have to be competitive worldwide.”

According to industry sources familiar with the discussions, President-elect Trump is mulling a position dedicated solely to cryptocurrency policy. It’s unclear whether the role would be a czar type or a White House staff role, but the official holding the position would interact with regulators, including the Securities and Exchange Commission and the Commodity Futures Trading Commission.

BITCOIN E.T.F. OPTIONS GO LIVE IN BUSY TRADING. MOST BETS ARE ON GAINS

Two names that come to O’Leary’s mind are former acting U.S. Comptroller of the Currency Brian Brooks and Coinbase CEO Brian Armstrong.

Kevin OLeary on crypto czar

Kevin O’Leary put pressure on a potential Trump-nominated crypto czar to start making regulatory decisions as soon as possible. (Getty Images)

“Brian, of Coinbase, he’s being sued by [SEC Chair Gary] Gensler right now. His company is under litigation from the SEC,” the O’Leary Ventures CEO noted.

“We need a czar here, and we need to start making decisions. Is Ethereum a commodity, or is it a security? Pick one and go with it. I don’t care which one it is, but we’ve got to at least pick it,” he added. “We haven’t done that yet.”

The president-elect campaigned heavily among pro-crypto voters, making a stop at crypto bar PubKey in New York City and speaking at the Bitcoin 2024 conference in Nashville, Tennessee, just weeks before Election Day.

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Bitcoin, the largest cryptocurrency by market value, touched a new all-time high of $94,000 in afternoon trading Wednesday and has advanced over 156% from its 52-week low of $36,815.63 in November 2023, as tracked by Dow Jones Market Data Group.

iShares Bitcoin ETF Trust

The surge in price has lifted crypto exchange-traded funds, driving the assets of the largest, iShares Bitcoin Trust, to over $40 billion and lifting it to a record high.

Other bitcoin ETFs are also seeing high interest. 

Ticker Security Last Change Change %
BTC GRAYSCALE BITCOIN MINI TRT ETF BITCOIN MINI TRUST BTC ETF 43.34 +1.50 +3.59%
GBTC GRAYSCALE BITCOIN TRUST ETF – USD ACC 77.62 +2.63 +3.51%
FBTC FIDELITY WISE ORIGIN BITCOIN FUND – USD ACC 85.42 +2.88 +3.48%
ARKB ARKB – ARK 21SHARES BITCOIN ETF – USD ACC 97.54 +3.24 +3.44%

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FOX Business’ Suzanne O’Halloran contributed to this report.



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Ford recalls nearly 25,000 trucks for problem that could make rearview camera malfunction

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Ford recalls nearly 25,000 trucks for problem that could make rearview camera malfunction
Ford recalls nearly 25,000 trucks for problem that could make rearview camera malfunction


Ford is recalling nearly 25,000 trucks because of a problem that could make the rearview camera system malfunction.  

The automaker said water “may enter the Tailgate Park Assist Sensor Interface Module” and lead to a malfunction of the rearview camera image display in 24,950 of its 2023-2024 F-250, F-350 and F-450 trucks. 

All the potentially affected trucks feature a tailgate top camera that “provides additional camera images when the tailgate is down and is a separate camera from the primary rear-view camera,” Ford said in a Oct. 25 recall report submitted to the National Highway Traffic Safety Administration (NHTSA).

A 2023 Ford Super Duty F-350 Limited.

A 2023 Ford Super Duty F-350 Limited. (Ford Motor Co. / Fox News)

The recall report indicated the problem stemmed from “certain mating interfaces” of the tailgate top camera being “out of tolerance” and the camera bracket “retain[ing] water” during the application.

FORD TO PAUSE PRODUCTION OF F-150 LIGHTNING PICKUP

In the event that the issue occurs, the rearview camera image may show up as “blue or black” or only work “intermittently,” things that could pose a safety issue due to reduced driver visibility, according to the report.

Ticker Security Last Change Change %
F FORD MOTOR CO. 10.24 -0.04 -0.39%

FORD CANCELS PLANS FOR ELECTRIC THREE-ROW SUV

It has not led to any known accidents or injuries, Ford said in another document.

Ford logo

A badge on a vehicle at a Ford dealership in New Lebanon, New York, on Jan. 25. (Angus Mordant/Bloomberg via Getty Images / Getty Images)

According to the recall report, owners of the recalled trucks can get their tailgate top camera, wire harness and TPASIM module swapped out at a Ford or Lincoln dealership for free. Their “Image Processing Module A” will receive a software update too, it said.

“Pick-up and delivery will be available at participating dealerships,” a Ford spokesperson told FOX Business. “We’re also working through other potential options that would make completing this recall as convenient as possible for our customers.”

FORD RECALLS 144,500 MAVERICK TRUCKS DUE TO REARVIEW CAMERA DISPLAY ISSUE

Affected Ford F-250, F-350 and F-40 owners can expect to see a recall notification letter in their mailboxes in early December.

Ford said early last month it has sold over 853,400 of its various types of trucks in the U.S. so far this year. 



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