ABC News | Shares in Trump social media company sink following concerns about insider selloff

Shares in Donald Trump’s social media company sank in morning trading on Wednesday, a day after the company filed paperwork with the Securities and Exchange Commission that could allow the president’s trust to sell more than $2 billion of shares.

The filing provides updated information about Trump’s majority stake in the company and flags the possibility of an additional 8 million shares hitting the open market, according to University of Florida finance professor Jay Ritter, who described the filing as a requirement if the company insiders attempted to sell off their shares.

Read more of Ritter’s insights in this story from ABC News.