Trump Media Stock Has Dropped 50% Since It Began Trading, Cutting Value of Trump’s Stake About $2.6 Billion
variety.comTodd Spangler NY Digital Editor Shares of Trump Media & Technology Group, the company majority-owned by Donald Trump that operates the Truth Social social media network, have fallen about 50% off their high since they started trading a little over two weeks ago.
TMTG stock closed at $32.59 per share Friday, rallying late in the day to close up 0.6% — but it’s down 50.7% from its peak closing price of $66.22 per share on March 27, the day after it first started trading on the Nasdaq exchange.
The company’s market cap is now about $4.55 billion, down from an intraday peak of more than $9.5 billion on March 26, according to CNBC.
Trump, the 45th president of the United States who is the presumptive 2024 Republican presidential nominee, owns 78.75 million shares of TMTG stock, representing 57.6% of the company’s shares, according to a regulatory filing.
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