Trump Media shares plummet, costing former president more than $1 billion in net worth

Published On Oct 31, 2024, 1:16 PM

Shares of Trump Media & Technology Group (DJT) suffered a significant drop, declining over 22% in one day, which resulted in a loss of more than $1 billion of net worth for former President Trump, the company's majority shareholder. Despite a rally earlier in the month that saw the stock increase significantly, the recent decline has raised concerns among investors. Shares were further halted due to volatility after dipping over 13% the following day. Analysts suggest the decline is puzzling given the absence of new major announcements or shifts in political polling.

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Stock Forecasts

DJTView DJT chart on TradingView

Negative

Given the recent volatility and significant drop in share price, it is likely that investor sentiment around DJT will remain negative in the short term. Stock movements appear highly speculative and sensitive to political developments, which introduces substantial risk.

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