January 8, 2025

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Shares of former President Donald Trump’s social media company hit their lowest price on Monday since trading publicly on Nasdaq following the merger nearly five months ago.

Trump MediaThe company that owns Truth Social, the preferred social messaging platform for Republican presidential candidates, was trading below $22.40 a share just before noon ET, down nearly 3% on the day.

The stock, which trades under the symbol DJT, hit its previous low in mid-April, when the stock plummeted to $22.55 on a wild run in its public trading debut.

The notoriously volatile stock’s downward trajectory over the past month has dovetailed with a series of seismic developments for Trump, who is both a major shareholder in Trump Media and a major drawcard for Truth Social users.

The stock soared on July 15, the first day of trading after Trump was nearly assassinated at a campaign rally in western Pennsylvania.

Two days later, Trump was officially nominated at the Republican National Convention, building momentum against then-presidential candidate Joe Biden. Democratic candidate.

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But when Biden dropped out of the race on July 21 and endorsed Vice President Kamala Harris to succeed him in leading the party, Trump’s growing lead suddenly shrunk.

Historic switch flipped betting market‘ views on who will win in November. Harris is now more popular than Trump.

Trump media has said Supervision filing Its success has to do, at least in part, with Trump’s popularity and reputation.

Some Trump supporters appear to view the company’s stock as a way to support the former president or bet on his chances of winning a second term.

On August 9, Trump Media reported a loss of more than $16 million for the quarter ended June 30, while revenue during the same period was only $837,000.

The company attributed about half of the loss to ongoing legal expenses related to its merger with special purpose acquisition company Digital World Acquisition Corp., which was delayed for more than two years after being announced.

Despite its meager revenue, the company’s current market capitalization is close to $4.5 billion due to its share price.

Trump is bound by a licensing agreement that requires him to publish “non-political” social media posts on Truth Social first.

But he is free to post political messages on any website without restrictions, and he has recently exercised this ability by posting on X and TikTok, two social media giants with audiences that dwarf Truth Social.

On August 12, Trump accepted a live interview with Tesla CEO Elon Musk on Musk’s social media website X.

Since the interview, Trump has posted regularly on X, formerly known as Twitter.

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