Truth Social parent Trump Media shares drop after president-elect transfers stake to trust

Trump Media & Technology’s shares fell as much as 6% before paring losses on Friday after President-elect Donald Trump moved the stake he owns in the social media company to a revocable trust.The move comes after Trump said in November that he had no intention of selling his shares in the company, which owns the Truth Social media platform.Trump transferred 114.75 million shares, or 53% of Trump Media & Technology Group’s outstanding stock, to the revocable trust of which he is the sole beneficiary, accordi ...