Trump Media’s Stock Plummets Almost 70%, Wiping Out Billions
06.09.2024 19:00 1 min. read Alexander Stefanov
Trump Media & Technology Group (DJT), which operates Truth Social, has seen its stock value drop dramatically by 69% since its debut in March.
The approaching end of the lockup period on September 19 is expected to drive prices even lower as insiders prepare to sell shares.
DJT’s significant value decline is linked to the expiration of its lockup period, which typically leads to increased share supply and a drop in prices. The company’s valuation, which reached $10 billion in May, has now fallen to under $3.4 billion.
Compounding the issue, Trump’s re-engagement with X (formerly Twitter) has overshadowed Truth Social, contributing to revenue struggles. Trump’s personal fortune has also diminished, raising concerns about his future investment in the company.
Trump Media’s Q2 revenue fell by 30% to $836,900, accompanied by a $16.4 million loss, a slight improvement from the previous year’s losses. Additionally, recent political developments and shifting market sentiments are impacting DJT’s valuation.
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