Trump Media shares sink 12% as DJT slide accelerates
What triggered the recent sell-off of Trump Media shares?
The recent sell-off of Trump Media shares was triggered by the company's declining stock price, which fell more than 40% since the start of June. This decline came after a New York jury convicted former President Donald Trump, the majority owner of Trump Media, on 34 felony counts of falsifying business records. The sell-off was exacerbated by a company deadline related to the Securities and Exchange Commission's expected approval of its registration statement, which authorized early investors to exercise warrants and allowed stockholders to publicly resell securities.
How significant is the on-paper loss for Donald Trump?
The on-paper loss for Donald Trump is significant, with his 114,750,000 shares in Trump Media experiencing a drop in value from over $5.6 billion at the beginning of June to around $3.2 billion based on recent stock moves. This loss comes amidst a period of declining share prices for the company and increased trading activity.
How does the current share price compare to its value at the start of June?
The current share price of Trump Media, the company behind the conservative social media app Truth Social, is more than 40% lower than it was at the start of June. At that time, the stock cost just over $49 a share, while it now trades at around $27.50 per share.