The collapsing stock price of Donald Trump's latest stock market venture, Trump Media & Technology Group Corp. DJT, proves once again an old Wall Street adage: “Buy on the rumor, sell on the news.”
Former President Donald Trump will soon be free to sell shares of Trump Media, the company he majority owns.
Trump Media shares have fallen 63% over the past five months, when the former president's net worth was $7.2 billion. It currently stands at $4.7 billion.
Trump Media stock closed at record-low on Tuesday, reflecting the market's growing bet that the Democrats will continue controlling the White House.
Shares of Trump Media & Technology Group , which is majority-owned by former U.S. President Donald Trump, sank to record lows on Tuesday, following the Republican presidential candidate's recent return to rival social media platform X.
Shares in Trump Media are set for a volatile week as Joe Biden took to the stage with Kamala Harris at the start of a four-day convention in Chicago.
Shares of Trump Media touched their lowest price since the Truth Social owner began publicly trading on the Nasdaq under the DJT ticker.
Shares of Trump Media & Technology Group Corp. are down 2.7% Monday and trading around $22.43, putting the stock on pace for its lowest close since Jan. 16, when it closed at $22.35, Dow Jones Market data show.
Trading in Trump Media is likely to be volatile this week as further details about Vice President Kamala Harris's campaign emerge at the DMC.
Serious risks are here. Hope for Truth Social improvements diminished with the 2nd quarter earnings report's weak results.
It's not just politics, but sentiment around the election seems to play a large role how Trump Media & Technology Group trades.
Investing in social media stocks might seem like a no-brainer. The social media market size was $219.06 billion in 2023, and by the end of 2028, it is expected to almost double.