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Why Trump Media Stock Plummeted Today

TheMotleyFool

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Why Trump Media Stock Plummeted Today: https://g.foolcdn.com/editorial/images/819712/btcdjt.jpg

Shares of Trump Media Technology Group (NASDAQ: DJT) sank on Tuesday. The company's stock plummeted 10.4% as of market close. The fall comes as the S 500 jumped 2% and the Nasdaq Composite fell 2.4%.

Trump Media announced on Tuesday that it is raising $2.5 billion to create what would be one of the largest Bitcoin reserves in the world held by a public company.

Following in the footsteps of Strategy, Trump Media is betting a massive reserve of Bitcoin will drive value. The company announced it had entered into a deal with institutional investors to raise $2.5 billion in exchange for $1.5 billion in stock and $1 billion in convertible notes.

Source Fool.com

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