Trump Media shares fall after he transfers his stake to revocable trust

Trump transferred 114.75 million shares, or 53% of Trump Media & Technology Group’s outstanding stock, to a revocable trust of which he is the sole beneficiary, according to securities filings released Thursday evening. Shares fell more than 7% Friday morning before ending the day down 2%.

Cordell Eminent Scholar Jay Ritter shares his insights on the move in this story from USA Today.