BusinessBusiness & EconomyBusiness Line

Trump Media shares shut down by extra than 5%, most up-to-date grim day for Truth Social owner

Jonathan Raa | Nurphoto | Getty Photography

The fragment label of Trump Media fell 5.4% on the shut of trading on Thursday.

DJT shares, the bulk of that are owned by aged President Donald Trump, ended at $32.41.

Thursday’s descend got here a day after Trump Media shares fell 8.57%.

The social media company’s inventory began public trading on the Nasdaq on March 26 with an opening label of $70.90, and soared to a high of nearly about $80 that day.

But the fragment label has slumped since then.

Learn extra CNBC politics coverage

The company‘s market capitalization as of Thursday is $4.43 billion, markedly lower than the stage viewed when shares began trading remaining month, but quiet reasonably very high given the company’s monetary results remaining year. Trump Media reported earnings of honest $4.1 million in 2023, and a fetch lack of $58 million.

Trump Media owns the Truth Social app, which Trump gradually makes exercise of to focus on with followers.

Trump owns nearly about 60% of the company’s shares. As of Thursday’s shut, his shares are charge $2.55 billion on paper, about half of what they be pleased been charge two weeks in the past.

Underneath the terms of a merger with a shell company that took Trump Media public, Trump is barred from selling his shares for six months from the March 22 closing date of that deal.

Trump is the presumptive Republican presidential nominee.

Don’t miss these exclusives from CNBC PRO

Content Protection by

Back to top button