Trump Media Stock Price Down 70% From March Peak

Published On Sep 4, 2024, 9:46 AM

Shares of Trump Media & Technology Group, owner of Truth Social, have plummeted by over 74% since their peak in March 2024, currently trading at $16.98. This decline correlates with negative investor sentiment regarding Donald Trump’s standing in the presidential race, exacerbated by recent polling showing Vice President Kamala Harris narrowly leading him. Additionally, the upcoming expiration of a lockup period that prevents Trump and early investors from selling shares is expected to further hurt the stock price. The company's financials are precarious, with significant losses anticipated and only minimal advertising revenue from Truth Social.