Trump Media’s moves
Shares of Trump Media closed down more than 5% at $42. 09 on Monday after the company filed a report of a new audit of its finances by a newly hired auditor, who had been hired after the company’s former auditor, BF Borgers, was charged with “massive fraud. “”through the SEC.
Shares of parent company Truth Social have fallen 18. 8% since May 30, when Trump was found guilty of 34 counts of falsifying business documents, the first time a former or sitting president has been convicted in a felony case.
Trump Media is also down more than 27% since listing on the Nasdaq after its merger in March, when it closed at $57. 99.
Trump owns about a 64% stake in Trump Media, valued at about $4. 7 billion.
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We estimate Trump’s net profit to be $6. 7 billion after seeing a 4% drop on Monday.
Trump Media informed the SEC last month that it would meet the deadline to file a currency functionality report because its new auditor, Semple, Marchal
The drop in Trump Media’s shares comes just two weeks after the former president’s conviction in New York. Trump was convicted of 34 counts of tampering with business records and faces a maximum sentence of 136 years in criminal terms before his July 11 sentencing. It is unlikely that you will get such a sanction since it is the first time you break the law. Legal experts also hope Trump will not be sentenced to any criminal offenses.
Trump found guilty of all 34 crimes in Hush Money trial: Here’s what happens next (Forbes)
Trump Media Auditing Firm Charged with “Massive Fraud” Through the SEC (Forbes)
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