Trump Media & Technology Group (DJT) stock surged between Donald Trump’s presidential election victory in early November and his inauguration. Unfortunately for investors in Truth Social’s parent company, the stock’s fortunes have taken a sharp turn for the worse.
That continued Monday. Shares of Trump Media, majority owned by Trump, continued their sharp decline since Inauguration Day today, plummeting more than 10% in afternoon trading amid a broad selloff.
The firm’s shares, which had jumped between between Election Day and Inauguration Day, have lost half their value since Trump took the oath of office for a second time.
Trump Media shares recently were down nearly 12% at $19.80. On Jan. 17, the last trading day before Trump was sworn in, the stock closed at $40.03.
The company in mid-February reported its full-year financial results, in a press release updating investors on plans to consider mergers or acquisitions and highlighting a balance sheet holding more than $770 million in cash and equivalents.
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