Donald Trump Media & Technology Group Shares Hit Record Low Despite Stock Market Surge
Unprecedented Decline in TMTG Shares
Donald Trump Media & Technology Group (TMTG) shares plummeted to their lowest level ever when the stock market opened on Friday. Trump, the GOP presidential nominee, now faces significant pressure as he considers selling his stake in the company that operates the Truth Social platform.
Stock Market vs. TMTG
Despite Wall Street closing at all-time highs following a substantial interest rate cut by the Federal Reserve, shares of TMTG fell almost 7 percent to $13.73, evaluating the company at less than $3 billion. Trump holds a 57 percent stake in TMTG, making it worth approximately $1.6 billion at the current share price.
- Initially peaked at $79.38 upon its launch in March.
- Experienced significant volatility influenced by Trump-related news.
- Losses totaled nearly $58.2 million last year against only $4.1 million in revenue.
Implications for the Republican Party
This drop in TMTG stock raises questions about its viability as a platform for Trump’s supporters and its impact on the Republican party’s social media landscape. As major stakeholders, including Trump, hold back from selling, the company may be hindered by its financial performance.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.