Ooops... Trump Media hits a new low today. Next stop, Penny Stock.
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- Shares of Trump Media sank to their lowest price in years.
- The stock, which trades as DJT on the Nasdaq, closed more than 10% lower.
- The Truth Social maker’s monthslong slump picked up steam days after majority owner Donald Trump and other insiders got the green light to start selling their stakes.
- Shares of Trump Media sank Monday to their lowest price since 2021, days after majority owner Donald Trump and other company insiders got the green light to start selling their stakes in the Truth Social operator.
The stock, which appears as DJT on the Nasdaq, closed more than 10% lower in a frenzied trading session, settling at $12.15 per share and notching the company’s sixth straight day of declines.
I need to buy his new crypto currency next.
Trump Media’s share price has fallen nearly 85% since the company surged in its public trading debut in late March.
Monday’s decline left the stock at its lowest level since before October 2021, when it was revealed that the blank-check firm
Digital World Acquisition Corp. was planning to merge with then-private Trump Media.
News of that deal sent shares of DWAC soaring more than 350%. The stock declined in the intervening years, before surging again in the early 2024 in anticipation of the completion of the merger with Trump Media.
The company’s market capitalization, which crossed
$10 billion in March, has now shrunk below $2.5 billion. Trump owns nearly 57% of the company’s outstanding shares, a stake that is still worth nearly $1.4 billion.
Trump and other company insiders were bound by lockup agreements that barred them from selling their shares in the initial months after Trump Media went public.
Those restrictions expired at the closing bell Thursday.
Trading volume accelerated significantly as the lockup lifted. More than 14 million shares changed hands on Thursday and nearly 22 million were exchanged Friday, far exceeding the 30-day average volume of about 8.3 million shares.
Traders swapped more than 18.3 million shares on Monday.
This seems like a sneaky way to give Don money. I wonder if the Saudi prince is buying shares or does he strictly invest with Jared? LOL