Trump Media & Technology Group Corp. is trading 4.4% down at $7.80 after the company reiterated its commitment to merge with TAE Technologies and scrapped a previously explored spin-off of its media assets.
- The decline follows the company's decision to abandon plans to separate its media business, leading to deal-related repositioning among investors.
- Shares are also being pressured by a broader market selloff, with major U.S. indices falling more than 1% as risk-off sentiment prevails.