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 filing showed a potential sale of 146.1 million shares of the social media company, including 114.8 million shares owned by Trump himself.
Bitcoin, the world's largest cryptocurrency by market value, fell on Monday as investors weigh Iran's attack on Israel. Investors view crypto as a safe asset or alternative to stocks.
The price of bitcoin was down more than 1.5%.
It touched $66,870.29 Friday and has gained 57% this year.
Shares of Elon Musk's Tesla tumbled Monday on reports the electric-vehicle maker is mulling layoffs adding to the 30%+ drop in the stock this year and clouding sentiment ahead of earnings.
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U.S. stocks gave up gains early afternoon as investors watch what happens next following Iran's attack on Israel over the weekend. Additionally, investors are digesting more corporate earnings including a positive quarter from Goldman Sachs. Those shares rose on Monday.
Despite inflation's creep higher, Americans keep spending based on the latest monthly check on retail sales.
Oil prices pulled back in the hours following Iran's attack against Israel but market watchers are keeping close tabs on West Texas Intermediate and Brent prices for any future potential impact if the Middle East crisis escalates.
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Gold held near its all-time high on Monday. Even before Iran attacked Israel, gold was hitting fresh records as investors try to handicap the impact of a potential rate cut by the Federal Reserve. Late Friday, Goldman Sachs raised its price target on the yellow metal to $2,700 an ounce from $2,300. State Street SPDR GLD ETF , the largest backed by physical gold, is up 7.6% this year outperforming its benchmark.
Symbol | Price | Change | %Change |
---|---|---|---|
GLD | $216.89 | -2.91 | -1.32 |
Iran's attack on Israel: Follow all the live developments from the Middle East as well as how the U.S. is monitoring the situation.
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