Trump Media shares fell more than 8% | Wilnesh News

The stock price is Trump Media The company’s shares fell more than 8% in midday trading on Wednesday. market Capitalization is less than US$5 billion.

At 12:44 pm ET, DJT shares were selling for $34.45, well below the stock’s opening price of $70.90 on March 26, the company’s first day on the market.

On Wednesday, the company’s shares fell below former shell company Digital World Acquisition Corp.’s closing price of $36.94 on March 22, the day DWAC shareholders approved a merger with Trump Media and days before the company went public.

The company’s largest shareholder is former President Trump, who holds nearly 60% of the company’s shares. Trump’s stock was worth less than $2.8 billion in midday trading, down sharply from its paper value of more than $5 billion two weeks ago.

Trump Media, which owns the Truth Social app, reported revenue of just $4.1 million in 2023 and a full-year net loss of $58 million.

This is developing news. Please check back for updates.