President Trump’s social media company on Wednesday filed papers with securities regulators that would allow Trump’s trust to sell almost 115 million shares of the company’s stock.
Why it matters: Truth Social may be hoping for a halo from Newsmax, the conservative media company that went public Monday and saw its stock rise from $10 to $233 in two days.
Driving the news: Trump Media & Technology Group, which operates Truth Social, filed a registration statement with the SEC allowing a variety of shareholders to sell stock from time to time.