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Trump Media Shares fell 8% on Tuesday as former President Donald Trump became eligible for an expected earnings bonus.
DJT closed at $32.57 per share, about 50% below last month’s opening price of over $70.
Trump will receive an additional 36 million shares, worth about $1.15 billion, as the stock closed above its lowest share price of $17.50.
Profits depend on the stock hitting the benchmark on 20 out of 30 trading days.
Trump is the largest shareholder of DJT, holding 78.75 million shares. Including profit bonuses, the former president’s stake in the company is worth about $3.7 billion.
A Trump media spokesperson did not respond to CNBC’s request for comment on the bonus.
The company also released statement Tuesday highlighted steps shareholders can take to prevent their shares from being loaned out for short selling. On Friday, Trump Media warned the CEO of Nasdaq about “potential manipulation” of the company’s stock through “naked” short selling.
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