The stock price of Trump Media, owner of the Truth Social app, dropped by over 17% in after-hours trading following the announcement that additional shares were approved for registration by the Securities and Exchange Commission. The company, trading under the DJT ticker, had already seen a decline of nearly 10% during regular trading hours. The SEC's approval allows early investors to exercise public warrants, potentially resulting in the issuance of up to 14,375,000 additional shares. This could lead to a significant drop in stock price if warrant holders decide to sell. However, Trump Media remains optimistic, projecting potential proceeds of $247 million if all warrants are exercised. CEO Devin Nunes expressed excitement about the future, noting plans to pursue TV streaming, platform enhancements, and mergers and acquisitions with the support of the company's 620,000 retail shareholders.