Trump Media shares fall to lowest level in 7 months

(Edaily reporter Ji-na Jeong) Trump Media & Technology Group (DJT) shares fell eight times in the past nine trading days, hitting their lowest level in seven months on the 19th (local time).

In midday trading today, Trump Media shares fell 2.21% to $22.55. This is the lowest level since January 16, when it hit $22.35.

Trump Media, which operates social media platform Truth Social, went public on March 26 through a merger with special purpose acquisition company Digital World Acquisition.

Trump Media shares haven’t reached higher pre-merger levels since closing at $51.84 on May 30, according to Dow Jones Market Data.

Trump Media announced in an earnings call earlier this month that its second-quarter losses narrowed to $16.4 million from $22.8 million in the same period last year. Trump Media said about half of its net loss, or $8.3 million, was made up of legal expenses, including those related to the Digital Word Acquisition merger.