Trump Media shares fall after new SEC filing with reaudited financial statement

• Trump Media submitted an updated inspection of the company's finances by a newly hired public accounting firm after its last auditor was charged with fraud.
• The media company is majority-owned by former President Donald Trump and trades as DJT on the Nasdaq.
• Trump Media hired Semple, Marchal & Cooper, LLP days after the SEC charged its prior auditor, BF Borgers CPA, with "massive fraud."

Trump Media on Monday submitted an updated inspection of the company's finances by a newly hired public accounting firm, after its last auditor was charged with fraud by the U.S. Securities and Exchange Commission.

Shares of Trump Media initially dropped more than 7% on Monday's announcement. The stock was down about 6% as of 1:00 p.m. ET.

The media company, which is majority-owned by former President Donald Trump and trades as DJT on the Nasdaq, said its revised registration statement includes a reaudit conducted by the Phoenix, Arizona-based firm Semple, Marchal & Cooper, LLP.

The company behind the social media platform Truth Social said in a press release that its latest filing amends a registration statement from mid-April and is not offering any new shares.

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