Trump stock tanks amid millions of new shares

(CNN)– Trump Media and Technology Group’s stock plummeted 15% today after the company announced a massive offering of new shares.

The company went public last month.

The stock value had rocketed higher leading up to that initial public offering but it’s lost more than 60% of its value from the peak on March 26.

A new stock offering now could help the struggling company stay afloat but there’s a catch.

This new offering of 21.5 million shares would decrease the value of the current shares.