Trump Media shares dropped sharply Wednesday, closing down by more than 9.5%. Trump Media, which trades under the DJT ticker, closed at $45.16 per share, a loss of $4.77 per share. The company, which owns the Truth Social app, is still trading well below the more than $70 per share it opened at in its public trading debut on March 26. Trump Media in a regulatory disclosure Tuesday confirmed that former President Donald Trump received an extra 36 million shares of the company in a so-called earnout bonus. Trump, who already owned more than 78 million shares, received the windfall because the share price remained above a benchmark of $17.50 for 20 trading days over the month since the stock began being publicly traded. Trump’s stake in Trump Media now stands at 65% of the company’s shares, and is worth $5.7 billion at a share price of $50. The former president is barred from selling those shares during the…
