What's Going On With Trump Media Stock Tuesday?

Trump Media & Technology Group Corp DJT shares are trading lower Tuesday after rising more than 31% on Monday. Here’s what you need to know.

What To Know: Trump Media shares fell after the market close on Monday after the company filed a prospectus related to the resale of 37.97 million shares of common stock.

Trump Media, the parent company of social media platform Truth Social, said it entered into a standby equity purchase agreement with Yorkville, under which Yorkville agreed to purchase up to $2.5 billion worth of Trump Media common stock. Trump Media had approximately $350 million in cash and zero debt on its balance sheet as of July 1.

The filing came after Trump Media shares closed Monday up 31.4% after former President Donald Trump‘s odds of winning the 2024 election climbed to an all-time high following an assassination attempt over the weekend.

A bullet grazed Trump’s ear at a campaign rally in Pennsylvania on Saturday. The former President was treated at a local hospital before being released later that night.

Check This Out: As Trump’s Chances Of Presidency Improve, Analysts Say His Return To White House Could Boost These 3 Sectors

Trump also selected Sen. J.D. Vance (R-Ohio) as his vice-presidential running mate on Monday as the Republican National Convention kicked off in Milwaukee, which sparked momentum in several Trump-linked stocks.

Trump Media is trending across various social sites on Tuesday. It was among the most talked about tickers on Reddit’s r/WallStreetBets over the last 24 hours and it was one of the top trending names on Stocktwits at publication time.

Trump Media’s average session volume is about 8 million, according to Benzinga Pro. Tuesday’s trading volume was already sitting around 5.3 million at publication time, less than a half hour into trading.

DJT Price Action: Trump Media shares were down 4.9% at $38.59 at the time of publication, according to Benzinga Pro.

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