Trump's media company loses a third of value after initial surge in trading

Source: The Guardian

Donald Trump’s media and technology group, DJT, has lost about 36% of its value since it began publicly trading on 22 March, dropping the former president’s stake to about $2.8bn.

As of Monday afternoon, DJT stock was priced at about $36 – down from a high of $66 seen on 27 March. But market analysts are saying it’s too soon to draw any firm conclusions from the depreciation because the stock has become one of the most actively shorted on the Nasdaq exchange – meaning traders have been betting that it will fall.

And the value of Trump’s social media company now stands at where it was when Trump Media merged under a special-purpose acquisition company (Spac) deal with shell company DWAC earlier in March.

The value of DWAC, renamed DJT, initially soared over several days in its infancy as a publicly traded company, briefly boosting Trump’s fortune – on paper – to more than $6bn. But the company generates minuscule revenue ($4.1m last year) and no profit.

Read more: https://www.theguardian.com/us-news/2024/apr/09/djt-stock-price-trump-media