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Shares of Donald Trump’s media companies have been steadily declining since his conviction on 34 felonies, and on Thursday, the stock price fell to near its all-time low.
It is reported that since the ruling in Trump’s hush money case last month, the stock price of Trump Media Technology Group, the company behind Truth Social, has fallen by nearly 40%. American Financial Channel.
At the close of trading on Thursday, DJT, the ticker symbol for Trump Media, was down another 15% to a value of just $26.75 — dangerously close to its all-time low of $22.84 set in April. At the time, Trump’s stock was performing so poorly that Trump Media CEO Devin Nunes wrote an op-ed about the president’s actions. letter He has previously requested a congressional investigation into anonymous trading of DJT stock. Incineration Complaint to Nasdaq about “naked short selling.”
It’s been another particularly turbulent trading week for the Dow Jones, starting with a nearly 10% plunge in Trump’s stock on Tuesday. After the close of the day, the U.S. Securities and Exchange Commission Declared Trump Media’s registration statement has gone into effect, causing its value to drop another 17% in after-hours trading.
The registration statement allows some investors to exercise Warrantsallowing them to exchange and sell shares. Unfortunately for standard shareholders who do not receive the benefit of warrants, this can dilute the value of their shares.
Less than a month ago, things were different for DJT. Trump Media’s stock price was as high as $49, and Trump’s 114,750,000 shares were worth more than $5.6 billion.
At today’s prices, the former president’s stake would be worth nearly $3.2 billion, and it’s hard to imagine what it will be worth by September when Trump is actually allowed to sell his shares.
DJT continues to prove itself to be a particularly volatile stock, with its value tied to the fate of a convicted felon and his ability to appeal to voters.
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