NEW YORK (AP) — The stock price for Donald Trump’s social media company slid again Monday, pushing it more than 66% below its peak set late last month.

Trump Media & Technology Group closed down 18.4% at $26.61 as more of the euphoria that surrounded the stock fades. It’s a sharp comedown since nearing $80 after the owner of Truth Social merged with a shell company to get its stock trading on the Nasdaq under the symbol “DJT,” for Trump’s initials.

Part of the decline may be due to criticism that the stock price had zoomed way past what skeptics said the money-losing company is worth, particularly one with tough odds for success. But another part is also likely because of action Trump Media took Monday.

The company filed documents with the U.S. Securities and Exchange Commission that open the door for the future potential sale of millions of shares. The document, called an S-1, relates to warrants held by investors that can be transformed into shares of stock, as well as shares held by company insiders.

The filing also includes all the shares held by the former president. Trump, though, remains under a “lock-up” deal that largely restricts him from selling his shares for another roughly five months. His son, Donald Trump Jr., who is a director on the board, and CEO Devin Nunes, are also bound by the lock-up.

Typically, all shares of stock held by insiders subject to lock-up deals are included in such filings, according to Jay Ritter, an expert on initial public offerings of stock at the University of Florida’s Warrington College of Business.

The filing does not necessarily mean any investors are planning to sell their shares, Sarasota, Florida-based Trump Media & Technology Group said in a statement.

Trump Media got its place on the Nasdaq after merging with a company called Digital World Acquisition Corp., which was essentially a pile of cash looking for a target to merge with. It’s an example of what’s called a special purpose acquisition company, or SPAC, which can give young companies quicker and easier routes to getting their shares trading publicly.

S-1 filings are typically filed quickly after a SPAC deal closes, usually within 15 or 30 days, said Kristi Marvin, founder of SPACInsider.com, which specializes in SPAC deals.

The exercise of warrants referenced in Trump Media’s S-1 filing would increase the number of shares outstanding for the company. That in turn could put downward pressure on the stock price. When something becomes more available, it tends to fall in price unless demand for it picks up accordingly.

The drop in Trump Media’s stock price over the last few weeks hurts its shareholders, who experts say are mostly smaller-pocketed investors rather than big institutions. Several users of Truth Social have said they bought shares to show their support of the former president.

The drop also puts a huge hit on Trump’s finances directly. He could personally own nearly 114.8 million shares, depending on the company’s performance. That would be worth $3.15 billion at its current price. On March 27, that was worth nearly $7.6 billion.

On Monday, Trump arrived at a New York court for the start of jury selection in his hush-money trial. It’s the first trial of any former U.S. commander in chief.

A new master plan for expansion of a popular open space in northwest Colorado Springs gained final approval Thursday despite concerns related to fire mitigation, evacuation protocol and preservation of wildlife.

The Colorado Springs Parks, Recreation and Cultural Services Department Advisory Board passed the plan for Blodgett Open Space in a 7-1 vote.

On April 5, the Trails, Open Space and Parks (TOPS) working committee voted in unanimous support of the Blodgett master plan that's been more than a year in the making. The 108-page document is meant to be a guide for recreation and conservation management over the next two decades at the city-owned property that has grown to 384 acres in recent years.

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The new plan calls for additional parking to accommodate 246 parking spaces across three parking separate parking lots. The 51-space north trailhead lot is to be the launch point for 2.3 miles of downhill, mountain bike-only trail as part of a total 14.2-mile network envisioned to be mostly shared by people on foot, including a hiking-only loop.

On Thursday, the final decision regarding the approval of the plan for the open space fell to the city’s park board.

Project Manager David Deitemeyer, who for the past 15 months has overseen the efforts behind the new master plan for Blodgett Open Space, reiterated the sentiment that “not everyone’s going to be happy,” while attributing the land’s high value both to mountain bikers, hikers, paragliders and neighboring residents.

A multitude of community members in support and opposition of the open space’s new master plan were at Thursday’s meeting to voice their opinions ahead of the board’s vote.

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Opposing resident Dorothy Macnak proposed transforming the open space into a nature preserve rather than an area of recreation, citing the U.S. Forest Service’s recommendation to remove recreation from wildlife.

“It is clear to me the preservation of Blodgett would better serve the community,” Macnak said to the packed room, which was followed by a round of applause by those in opposition.

Others added to the argument, relaying concerns about wildlife and fire evacuation protocol.

Mountain biking advocate and SRAM spokesperson Conrad Madey brought a petition signed by 173 fellow mountain bikers who are also in support of the master plan.

“(We) value Blodgett Open Space as a unique opportunity for mountain biking in the city for its challenging terrain and exciting sustained descents,” Madey said, citing the need for the new trails to alleviate crowding and safety concerns.

Following an hours-long community forum, the board voted in favor of the new open space.

The newly accepted plan is set to cost the city $6,895,630, with projects surrounding resource monitoring, trailhead management and updates, and forestry planning expected to start this year.

Calling all with a sweet tooth!

A day of chocolatey goodness will return this weekend after a three-year hiatus.

On Saturday, the Norris Penrose Event Center will host the Pikes Peak Chocolate and Cheese Fest. The food festival will host a variety of chocolatiers overflowing with samples to indulge in.

“It’s going to be big, but we’re ready,” said Dana Cain, who organizes the festival. “We’ve been doing chocolate festivals now for over 15 years, so we’ve got a lot of local and regional chocolatiers bringing out their stuff.”

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New to this year’s festival — cheese! The festival is hosting local and international cheese vendors to spice things up this year. There will even be a cheese rolling contest — winner gets the wheel.

The two flavors — chocolate and cheese — will compete in a fondue show hosted by Colorado chef Andrew Novick.

Participants will get to dip an assortment of foods into each to determine which topping works best.

“I bill him as Colorado’s wackiest chef, he does such crazy things. So he’s doing this fondue showdown called ‘Who wore it best,’” Cain said.

As for the main attraction — the chocolate — there will be a pudding eating contest at noon to win sample tickets, as well as chocolate bingo in the afternoon.

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Samples will be available throughout the festival with taste tickets, and if you like what you try, you can buy more to take home.

What kind of chocolate will be available? Just about anything you can think of — truffles, fudge, bars, cookies, brownies and toffee, to name some.

“This is stuff you can’t find at the grocery. You can’t find it at Walgreens,” Cain said. “We’re talking gourmet, boutique, small batch, free trade.

The good stuff, and not just like a candy bar. They’ve got intricate truffles, beautiful bonbons, all kinds of flavors, all kinds of fillings.”

Cain did offer a piece of advice for those looking to avoid crowds at the festival — wait until the afternoon to join in, because there will be lines early.

“It’s gonna be a lot of fun,” she said. “Some people don’t mind, they just want to get in there. They just want to sample everything. But if you’re a person that doesn’t like crowds, show up later in the day.”

Colorado Springs residents can expect the week to get off to a warm and breezy start, according to Gazette news partner KOAA.

A low-pressure system is set to bring high winds to the Pikes Peak region, with gusts up to 45-50 mph, Meteorologist Alan Rose said.

“Although slightly cooler than yesterday, highs today will be well above average for this time of the year,” Rose said. “Seventies and 80s can be expected on the Plains, with 50s and 60s for our mountains and mountain valleys.”

Warm temperatures and high winds mean increased fire danger for the area. The National Weather Service has issued a Red Flag warning from 9 a.m. to 10 p.m. Monday.

A few showers will be possible overnight into Tuesday morning from the mountains to the Pikes Peak Region and eastern Plains, mainly north of Highway 50.

"Behind a cold front that moves through the Plains Tuesday morning, the wind will shift to the N/NW and it will remain strong," Rose said. "Gusts on Tuesday will be around 35-45 mph in the Pikes Peak region, with much stronger gusts possible on the eastern Plains."

The flow will turn more westerly by mid-week as the wind and high fire danger continues to plague southern Colorado.

"Late this week, the northern branch of the jet stream will dip south into Colorado. This will result in cooler temperatures and the potential for some rain and snow showers as we head towards the weekend," Rose said.

Here is the rest of the week’s forecast from the National Weather Service:

Tuesday: A 40% chance of showers, mainly before noon. Partly sunny, with a high near 66. Windy, with a north northwest wind 20 to 30 mph, with gusts as high as 45 mph. New precipitation amounts between a tenth and quarter of an inch possible.

Wednesday: Mostly sunny, with a high near 73. Breezy, with a south southwest wind 5 to 10 mph increasing to 15 to 20 mph in the afternoon.

Thursday: A 20% chance of showers after noon. Partly sunny, with a high near 53. Breezy, with a north wind 15 to 25 mph becoming east southeast in the afternoon.

Friday: A 30% chance of showers and thunderstorms after noon. Partly sunny, with a high near 54. South southeast wind around 15 mph.

Mesa Ridge had already won four in a row (a stretch where they outscored their opponents by an average of 11.5 runs), and they went ahead and made it five in their first game on Saturday. They were the clear victor by a 13-5 margin over the Colorado Springs Christian Lions.

Gabe Montijo was a major factor no matter where he played. He struck out six batters over four innings while giving up just one earned (and one unearned) run off three hits (and only one walk). Montijo has been consistent recently: he hasn't given up more than two walks in three consecutive pitching appearances. Montijo was also solid in the batter's box, scoring two runs and stealing two bases while going 2-for-4.

In other batting news, Austin Higgins was a standout: he went 2-for-2 with a home run. Another player making a difference was Zander Iwanski, who scored a run and stole a base while going 1-for-1.

On Colorado Springs Christian's side, they saw four different players step up and record at least one hit. One of them was Jessen Eng, who scored two runs while going 2-for-3. The team also got some help courtesy of Mike Sandlin, who got on base in all three of his plate appearances with an RBI.

Mesa Ridge pushed their record up to 7-6 with that victory, which was their third straight at home. Those victories were due in large part to their hitting performance across that stretch, as they averaged 14.0 runs per game. As for Colorado Springs Christian, they now have a losing record at 3-4-1.

Mesa Ridge will head out on the road to challenge Fountain-Fort Carson at 3:00 p.m. in their second game on Saturday. Mesa Ridge has given up an average of 7.8 runs per game this season, so hopefully the team got some pitching drills in this week. As for Colorado Springs Christian, they will head out on the road to take on Vista Ridge at 1:00 p.m. in their second game on Saturday. Colorado Springs Christian has given up an average of 7.6 runs per game this season, so hopefully the team got some pitching drills in this week.

Article generated by infoSentience based on data entered on MaxPreps