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As of Thursday’s close, Trump Media’s stock price fell 5.4%.
DJT stock, mostly owned by former President Donald Trump, closed at $32.41.
On Thursday, Trump Media shares fell 8.57%.
The social media company’s shares began public trading on Nasdaq on March 26, opening at $70.90 and soaring to a high of nearly $80 that day.
But the stock price has been falling since then.
this companyAs of Thursday, the company’s market capitalization was $4.43 billion, significantly lower than when the stock began trading last month, but still relatively high considering the company’s financial performance last year. Trump Media reported revenue of just $4.1 million in 2023 and a net loss of $58 million.
Trump Media owns the Truth social app, which Trump frequently uses to communicate with his followers.
Trump owns nearly 60% of the company. As of Thursday’s close, his stock had a book value of $2.55 billion, about half its market value two weeks ago.
Under the terms of the merger with a shell company listed by Trump Media, Trump is not allowed to sell its stock for six months from the March 22 trading deadline.
Trump is the presumptive Republican presidential nominee.
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