(Reuters) - Trump Media & Technology Group filed papers with the U.S. Securities and Exchange Commission on Wednesday that would allow President Donald Trump’s trust to sell stock that could be worth $2.3 billion, Axios reported.

Shares of Trump Media, which operates Trump’s Truth Social media platform, were down about 7% in premarket trading on Wednesday.

(This story has been corrected to fix the company name to ’Truth Social’ from ’Truth Media’ in the headline)