Rafael Enrique | Light Rocket | Getty Images
Trump Media Shares fell 15% in intraday trading Thursday after a New York jury found former President Donald Trump guilty of all 34 felony counts of falsifying business records in his hush-money criminal trial.
The stock, trading under the symbol “DJT,” recovered slightly as trading continued but was still down about 9% in the early evening.
The former president owns 65% of the company.
Trump Media, which owns the Truth Social app, merged with shell company Digital World Acquisition Corp. in late March. The stock soared and then plummeted.
The company, which has a market capitalization of about $9 billion, is based almost entirely on Trump’s brand and his massive personal following. Trump Media reported a first-quarter net loss of $327.6 million on revenue of less than $1 million.
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