Shares of Trump Media & Technology (DJT) tumbled 9.62% in pre-market trading on Wednesday following the company's announcement of substantial stock offering plans. The dramatic decline comes as investors react to potential share dilution and increased supply in the market.

The company filed for two separate stock offerings: 1. A primary offering of up to 8.4 million shares of common stock 2. A secondary offering of up to 134 million shares of common stock These offerings, totaling 142.4 million shares, represent a significant increase in the company's outstanding shares, which has alarmed investors and triggered a sell-off.

Stock offerings are often viewed negatively by the market as they typically dilute the ownership stake of existing shareholders and can put downward pressure on the stock price. The scale of Trump Media & Technology's proposed offerings, particularly the large secondary offering, has intensified these concerns. As the trading session approaches, investors will be closely watching to see if the stock can recover from this pre-market plunge or if the downward trend will continue throughout the day.