(Reuters) -Shares of Truth Media & Technology Group, the parent company of President Donald Trump's Truth Social platform, plunged more than 6.5% on Wednesday after the company filed papers that would allow the president's trust to sell a large number of shares.

Newsmax's shares closed with a more-than-eight-fold gain at $83.51 on Monday, partly buoyed by retail interest.

Newsmax debuted on the New York Stock Exchange on Monday and surged over 500% in the first few hours of trading, leading to nearly a dozen trading halts following its initial public offering, as its market cap surged to more than $5.5 billion.

The New York Stock Exchange launched its Texas exchange with its first listing by Trump Media & Technology Group.

Babcock & Wilcox's stock closed Tuesday at an all-time low 46 cents per share. On quarterly earnings call, executives discuss looming debt deadlines.

The move could bolster Intercontinental Exchange-owned NYSE, which on Monday became the first exchange to operate in Texas.

Trump Media & Technology Group said on Monday it has become the first company to be listed on NYSE Texas, handing an early boost to the exchange as it gears up for fierce competition in the Lone Star state.

Equity Stock Transfer congratulates Chris Ruddy and Newsmax on this milestone and thanks the team at Digital Offering and Vinyl Equity for their assistance in processing the transfers. Equity Stock Transfer through its relationship with Vinyl Equity helped achieve this success using custom systems software jointly developed to service large private offerings which utilize general solicitation and advertising for investors as allowed under the Jobs Act and Regulation D under the Securities Act of 1933.