Trump Media & Technology Group Corp. stock plummeted after the SEC approved a regulatory filing allowing for the dilution of shareholders. The company, which owns Truth Social, has experienced wild fluctuations since its public debut, reaching highs of $79.38 only to drop as low as $22.55. The approval of the S-1 filing allows derivative holders to swap their warrants for shares, potentially adding $247 million to the company’s balance sheet but also flooding the market with additional stock. CEO Devin Nunes is optimistic about pursuing TV streaming and acquisitions, despite a recent 15% drop in the stock price. The warrants, typically used in SPAC deals to reward investors, fell by 32% in late trading. Former president Donald Trump, the company’s largest stakeholder, faces restrictions on selling his nearly $3 billion worth of shares until September. The company’s future remains uncertain as it grapples with regulatory hurdles and market volatility.