Trump Media & Technology Group said Monday that it will issue millions more shares, sending its stock plunging again.

The company behind former President Donald Trump’s Truth Social platform said in a Securities and Exchange Commission filing Monday morning that it is registering the resale of up to almost 21.5 million new shares of common stock issuable upon the exercise of warrants, up to about 146 million shares of common stock, and up to about 4 million warrants to purchase common stock. Certain shares held by insiders may still be restricted from trading until the expiration of a lock-up agreement 5-6 months after the date of the IPO.

Trump Media stock ended Monday down 18.3%, to $26.61 per share, and has now fallen almost 67% from a peak of almost $80 during its first week trading on the public market.

The number of shares Trump Media is offering for resale is 256% of the company’s public float, or the regular shares it has issued to the public that are available for investors to trade, and 107% of its outstanding shares as of Jan. 31. The company said that despite its closing price of $32.59 on April 12 — the price at which the shares are being offered — shareholders “may still experience a positive rate of return” on the shares of common stock they purchased.

Trump Media went public on the Nasdaq under the ticker DJT on March 26, after completing its merger with Digital World Acquisition Corp., a special purpose acquisition company, or SPAC. At the peak of its first trading week, shares of Trump Media traded at almost $80 apiece. Analysts said the company’s initial stock boom had little to do with its underlying business and more to do with support for Trump, lumping Trump Media in with so-called “meme stocks,” like GameStop, AMC, and Reddit.

The stock began to nosedive after the company disclosed a loss from operations of almost $16 million in 2023, plus interest expense of $39.4 million, while bringing in just $4.1 million in revenue. That’s compared with a loss from operations of $23.2 million, plus interest expense of $2 million, on $1.5 million in revenue in 2022, according to the company’s Securities and Exchange Commission filings.

Trump Media revealed that it “lacks the financial resources it needs to sustain operations for a reasonable period of time,” raising “substantial doubt” as to its ability to continue operations. The company said in an SEC filing that it expects to continue incurring operating losses and negative cash flow “for the foreseeable future.”

Trump Media & Technology Group stock briefly fell below $30 per share on Friday, hitting another new low since its debut on the Nasdaq last month. The dip brought the company’s market value down to about $4.2 billion, halving the more than $8 billion market capitalization it saw in its first trading week.