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Former President’s Shares Donald TrumpOn Monday, the social media company hit its lowest price since going public trading At Nasdaq after the merger nearly five months ago.
Trump Mediathe company that owns the social messaging platform of choice among Republican presidential candidates truth societyIt was trading below $22.40 a share just before noon Eastern time, down nearly 3% on the day.
The stock’s previous low, it was trading at DJT In mid-April, the company saw wild gains in public trading, with its stock price plummeting to $22.55.
The notoriously volatile stock’s downward trajectory over the past month has dovetailed with a series of seismic developments for Trump, who is both a major shareholder in Trump Media and a major drawcard for Truth Social users.
On July 15, the first trading day after Trump was almost elected, the stock price soared. assassinated At a campaign rally in western Pennsylvania.
Two days later, Trump was officially nominated at the Republican National Convention, adding to the momentum he had built against the president. Joe Bidenwho was the presumptive person at that time? Democratic candidate.
But when Biden dropped out of the race on July 21 and endorsed the vice president, Trump’s growing lead suddenly shrunk. Kamala Harris as his replacement to lead their party.
Historic switch flipped betting market‘ thoughts on who will win in November. Harris is now more popular than Trump.
Trump media has said Supervision filing Its success has to do, at least in part, with Trump’s popularity and reputation.
Some Trump supporters appear to view the company’s stock as a way to support the former president or bet on his chances of winning a second term.
On August 9, Trump Media reported that the company had lost more than $16 million. fiscal quarter As of June 30, revenue for the same period was just $837,000.
The company attributed about half of the loss to ongoing legal expenses related to its merger with special purpose acquisition company Digital World Acquisition Corp., which was delayed for more than two years after being announced.
Despite its meager revenue, the company’s current market capitalization is close to $4.5 billion due to its share price.
Trump is bound by a licensing agreement that requires him to publish “non-political” social media posts on Truth Social first.
But he is free to post political messages on any website without restrictions, and he has recently exercised this ability by posting on X and TikTok, two social media giants whose audiences dwarf Truth Social .
Trump August 12 Interviewed Tesla CEO Musk Livestreamed on X, a social media app owned by Musk.
Since the interview, Trump has posted regularly on X, formerly known as Twitter.
