Trump Media stock soars 21%, breaking weekslong decline in DJT share price

• Shares of Trump Media, which trades as DJT on the Nasdaq, shot up 21% after weeks of declines.
• The company recently saw its stock price fall by nearly 50% in the weeks after former President Donald Trump was found guilty of falsifying business records.
• Shares of Trump Media sunk lower after its registration of additional shares was declared effective by the SEC.

Shares of Trump Media soared more than 21% on Monday, as the firm majority-owned by former President Donald Trump sought to bounce back from a weekslong plunge that cut the stock price nearly in half.

Trump Media stock, which appears as DJT on the Nasdaq, ended the trading day at $33.52 a share. The stock closed Friday at just over $27.

The gains were welcome news for the company behind Truth Social, which has seen its stock price fall by nearly 50% in the roughly three weeks since a New York jury found Trump guilty of 34 felony counts of falsifying business records.

Shares of Trump Media sunk even lower last week, after its registration of additional shares was declared effective by the Securities and Exchange Commission. The clearance threatened to dilute the stock price by adding more tradable shares to the company's float.

The registration allowed early investors to resell certain shares and exercise previously issued warrants. Stock warrants give their holder the ability to buy shares at a predetermined price within a certain time frame.

On Friday, Trump Media said it expected to rake in more than $69.4 million in proceeds from the warrants exercised on Thursday and Friday.

Meanwhile, Trump Media remains a risky, and pricey, company to sell short.

It is the most expensive stock to borrow in the U.S., financial data firm S3 Partners told CNBC on Monday. And