Stocks in Former President Donald Trump’s Media & Technology Group Finally Rebound after Two Days of Turmoil
Investors in Trump Media & Technology Group’s stock are finally seeing an uptick in their shares after two days of turmoil. The company, majority-owned by former President Donald Trump, has been struggling to make money and needs cash, which has caused extreme swings in the net worth of the former president.
On Wednesday, TMTG (DJT) rebounded by 20% in early afternoon trading after tumbling earlier this week. Shares closed more than 14% lower on Tuesday after the company announced a major expansion into streaming, which is notoriously cost-intensive. It also fell 18% on Monday after the company took steps to sell millions of extra shares.
Trump Media shares have been volatile due to the company’s connection to the former president. His name recognition, politically polarizing nature, and close association with the company have drawn attention from investors, traders, and the news media, creating a volatile environment for the stock. Despite this, the company is down about 60% from its all-time high set on March 26 when it merged with a blank-check acquisition company to go public. The company’s market value is just under $3.8 billion, well below its peak of $8 billion when it began trading at nearly $70 a share.
Trump Media lost $58 million in 2023 and made only $4.1 million in revenue, leading to extreme swings in the net worth of former President Trump who serves as the company’s largest shareholder and chairman. On one particularly bad day
