Shares of Trump Media dropped more than 22% Wednesday, pouring cold water on a remarkable rally that added billions of dollars to former President Donald Trump’s on-paper net worth in the run-up to the 2024 election.
DJT stock, which closed at $51.51 per share on Tuesday, was trading under $40 around noon ET Wednesday.
Trump, the Republican presidential nominee, owns nearly 57% of the company, according to recent regulatory filings.
His stake as of midday Wednesday was worth around $4.5 billion — nearly $1.4 billion lower than where it stood Tuesday afternoon.
Trump has vowed not to sell his shares.
Trump Media (DJT) Stock Price
This is developing news. Please check back for updates.
Read more CNBC politics coverage
Source link
About the Author
Kevin Breuninger
This author has not added a biography. Meanwhile Kevin Breuninger has contributed 51 posts.
Click here
to view them.
