Shares of Trump Media and Technology Group slid in midday trading Friday after President-elect Donald Trump transferred all of his shares into a revocable trust, according to a regulatory filing.

The president-elect indirectly owns 114.75 million shares, or 53% of the company's total outstanding stock, according to an SEC filing

Trump Media & Technology Group Corp.’s stock fell about 6% Friday after Donald J. Trump transferred his entire $4 billion stake in the company into a revocable trust, according to filings.

Donald Trump has transferred all 114.75 million of his shares in Trump Media & Technology, Truth Social’s parent company, to a revocable trust in his control.

Donald Trump has transferred all 114.75 million of his shares in the parent company that runs his Truth Social platform into a revocable trust before he returns to the White House. His shares in Trump Media & Technology Group are currently worth roughly $4 billion,

Donald Trump moved his roughly 57% stake in Trump Media & Technology Group to his revocable living trust, according to a recent regulatory filing—raising the possibility his shares could be traded during his presidency by his oldest son—causing shares in the Truth Social parent to slide 6% while cutting about $200 million from the president-elect’s net worth.