Truth Social shares fall 15% as Trump gets closer to tapping shareholding

The Truth Social account for former president Donald Trump is seen on a mobile device

Shares in Donald Trump’s social media startup tumbled, extending a two-week slump, after the company took a first step toward allowing the former president and other insiders to capitalise on their stakes.

Trump Media & Technology Group, parent of Truth Social, filed to register shares, including those linked to warrants. The move could ultimately bring forward sales from insiders that are currently not permitted until September.