Trump Media’s stock has tumbled 57% this year—and his fans are bearing the brunt of the losses
Trump’s stake in Truth Social’s parent company is still worth billions, but many ardent followers who have invested in DJT stock have been thwacked.On the campaign trail, former president Donald Trump talks frequently about what a great businessman and a great investor he is. But one topic he doesn’t discuss is the collective $1 billion-plus of losses suffered by people who invested in Trump Media & Technology Group Corp. The company, whose stock trades on the Nasdaq with the symbol DJT, owns Truth Social, Donald Trump’s social media site where he posts his thoughts, day in and day out.
On March 26, Trump Media’s first day as a public company, its stock closed at $57.99 a share, after trading as high as $79.38. But Friday, the stock closed down at $26.21, and after the trading day ended, the company reported a $16.4 million second-quarter loss and just $837,000 of operating revenue, down 30% compared to the same period last year.
On Monday, the stock tumbled again, down to $24.88. That’s a 57% drop from its first-day closing price and a 69% drop from its first-day high.
