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Trump Media & Technology Group Corp. The company that runs former President Donald Trump’s Truth Social platform said Tuesday that regulators had allowed some investors to resell certain securities and exercised certain warrants. Trump Media & Technology DJT shares fell another 13.5% in after-hours trading Tuesday after dropping 9.82% after falling about 10% during regular trading on concerns that the action would reduce the overall supply of shares, thereby lowering the stock price for shareholders.

The company said Tuesday that the Securities and Exchange Commission had declared an amended registration statement “effective” for potentially millions of warrants and common stock, some of which could be issuable if the warrants are exercised. The warrants allow investors to buy and sell shares at a predetermined price within a prescribed period. Trump Media & Technology said the company could earn “up to approximately $247 million in aggregate proceeds” if all of the warrants listed in the registration statement are exercised for cash.

Chief Executive Officer Devin Nunes, a former Republican congressman from California, said the move helped prepare Trump Media for its streaming ambitions and “potential mergers and acquisitions.” The company said it would not receive any proceeds from the sale or resale of securities “except in connection with the potential future exercise of all outstanding cash warrants.” It also said the company’s directors and senior executives, as well as Trump himself, who owns about two-thirds of the company’s outstanding stock, are still subject to lockup periods at this time and are otherwise prohibited from selling shares.

Tuesday’s drop comes after the stock has been on a steady downward trend since President Trump was convicted last month for concealing hush payments to porn stars. Trump Media & Technology shares have soared, but are still up 78.9% year to date since the company’s meme-like surge following its IPO in March. The company is seeking an investigation into possible illegal short selling of its own stock, but some experts say those allegations are unlikely to be confirmed. Trump Media lost money in the first quarter.

Elon Musk got paid. And a lot. Here’s where it gets interesting: Musk has to make Tesla so big, successful, and valuable that the tens of billions of dollars he gets will seem cheap in comparison. You might think selling cars is the way to get there, but you could be wrong. Musk, and by extension Tesla, seem much more interested in bigger, more ambitious, and obviously more complicated ideas.

In this episode of The Vergecast, The Verge’s Andrew Hawkins guest stars as we talk about everything Tesla is working on and why cars have come to feel like they’re at the bottom of that list. We talk about Optimus Robots, the Tesla Network, the whole “AWS for AI” thing, and what the next three mystery vehicles are. Finally, we look at how Musk’s relationship with Tesla, and Musk’s relationship with the company, have changed since Tesla shareholders last voted to give Musk his full share.

Do these two need each other more than ever, or is this union doomed? Then we’re joined by Victoria Song from The Verge, who shares her excitement about the Apple Watch’s rest days. Ah, sorry, “Ring is broken.” It only took Apple a decade to realize that even the most active people need it sometimes. We’re super excited about the possibility of a smarter relationship with the Workout series.

We also talk about Pixel Watch leaks, the new Samsung Galaxy Watch FE, and whether the Galaxy Ring could be a game-changer. Finally, we answer questions from the Vergecast hotline about weather apps (866-VERGE11 or [email protected], send us all your questions!) We know there’s no perfect weather app for everyone, but it’s entirely possible to find the perfect weather app for you.

Asian shares were mixed on Wednesday after U.S. benchmarks hit new records following the latest signs that the U.S. economy may slow without falling into recession. U.S. futures were mixed and oil prices were little changed. Tokyo’s Nikkei 225 index rose 0.2% to 38,575.54 as Japan’s trade data for May showed exports rose 13.5% from a year earlier and imports rose 9.5% on higher prices and a weaker yen against the U.S. dollar.

Minutes from the Bank of Japan’s most recent monetary policy meeting revealed discussions among policymakers about whether a weaker yen could push up inflation further. Governor Kazuo Ueda indicated his intention to raise key interest rates in the coming months depending on available economic indicators. “The Nikkei’s move reflects a lot of indecision as the indexes have been in a broad correction phase so far,” IG Asia said in a commentary. Hong Kong’s Hang Seng Index rose 2% to 18,264.51, while the Shanghai Composite Index fell 0.3% to 3,020.03 after the head of China’s securities regulator said at a Shanghai financial forum that authorities would supervise all financial activities to prevent a possible financial crisis. Risk. In Sydney, the S&P/ASX 200 fell 0.2% to 7,764.30. South Korea’s Kospi rose 1% to 2,792.14. Taiwan’s THAI-X rose 1.8% and Bangkok’s SET fell 0.1%. On Tuesday, the S&P 500 rose 0.3% to 5,487.03, its 31st record this year. The Nasdaq Composite rose less than 0.1% to 17,862.23.

The Dow Jones Industrial Average rose 0.2% to 38,834.86. Nvidia was the star of the show again, rising 3.5% and being the biggest driver of the S&P 500. The company has once again boosted its total market value to more than $3 trillion. Nvidia’s chips have helped develop artificial intelligence, which advocates hope will change the world as much as, or even more than, the Internet. And demand for Nvidia’s chips is astoundingly high. Nvidia’s revenue is tripling every quarter, and profits are soaring at an even more astounding pace.

Its stock price is up nearly 174% since the beginning of the year, and Nvidia alone accounted for nearly a third of the entire S&P 500’s gains in the year through May. Of course, the danger of a handful of superstars being responsible for most of the U.S. stock market’s record gains is that the market becomes more volatile. If more stocks are involved, that could be a sign of a healthier market. Retail sales rose 0.1% in May, slower than economists had expected, the Commerce Department said. April sales were revised down to a 0.2% decline from unchanged. Sales rose 0.6% in March and 0.9% in February. The decline comes after a 1.1% decline in January, hurt by bad weather.

The weaker-than-expected data could be a warning sign that household spending, a key driver of the U.S. economy, is sagging. Inflation has slowed from its peak but remains high, with lower-income households in particular struggling to keep up with rising prices. Still, a Bank of America survey of global fund managers found they have been the most bullish on stocks since fall 2021, with relatively little money stashed in cash and more allocated to stocks. Fewer managers are predicting a “hard landing” in which the economy falls into a deep recession. Elsewhere, the price of U.S. benchmark crude oil was unchanged at $80.71 a barrel in electronic trading on the New York Mercantile Exchange early Wednesday. Brent crude rose 2 cents to $85.35 a barrel. The dollar rose to 157.87 yen from 156.87 yen. The euro fell to $1.0737 from $1.0740.