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Trump is getting additional shares in his social media company, Trump Media & Technology Group, as part of his current agreement. He still can't cash in yet though.
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Oklahoma Attorney General Gentner Drummond has signed onto a legal brief questioning a federal statute that shields tech companies from civil lawsuits.
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Trump Media shares surged over the most recent two trading days — but the company continues to weather a miserable run since its stock market debut last month.
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Trump Media & Technology Group fell sharply after saying it was issuing new shares. Trump's stake is still worth billions of dollars, however.
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Truth Social shares fell sharply for a second consecutive day, wiping out billions of dollars from the value of Donald J. Trump's stake.
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Stock in the parent company of former president Donald Trump's social media platform sank on Monday, after the company reported losing $58 million last year. That erased last week's market gains.
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Trump Media and Technology Group surged in its trading debut, substantially boosting the former president's wealth — at least on paper.
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Trump Media and Technology Group will trade on the Nasdaq exchange under the stock symbol DJT. The listing comes as the former president is mired in a slew of legal cases.
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At issue was a sweeping Fifth Circuit Court of Appeals decision that barred government officials from having contacts with social media platforms.
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The plaintiffs in the lawsuit are Missouri, Louisiana and five individuals who were either banned from social media during the pandemic or whose posts, they say, were not prominently featured.