Trump Media shares discontinuance down greater than 8%, putting market cap beneath $5 billion

Jonathan Raa | Nurphoto | Getty Photography

The fragment mark of Trump Media closed trading Wednesday down 8.57%, putting the corporate’s market capitalization beneath $4.7 billion.

DJT shares closed at $34.26.

That is successfully beneath the $70.90 that the stock opened at on March 26, its first day as a publicly traded company.

And it is miles kind of $2.70 per fragment lower than the closing mark of the aged shell company, Digital World Acquisition Corp. on March 22, the day that DWAC shareholders authorized the merger with Trump Media that took that company public days later.

Omar Marques | Lightrocket | Getty Photography

Trump Media’s fragment mark is down 44.71% month to this level.

The company’s ideally suited shareholder is aged President Donald Trump, who holds a almost 60% stake. Trump’s shares had been worth lower than $2.7 billion at Wednesday’s discontinuance, a steep fall from the greater than $5 billion in paper mark they’d two weeks ago.

Trump Media, which owns the Truth Social app, reported earnings of appropriate $4.1 million for 2023, and a catch loss of $58 million for the year.

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