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Trump Media’s inventory worth fell 5.4% on the finish of buying and selling on Thursday.
DJT shares, majority owned by former President Donald Trump, closed at $32.41.
Thursday’s decline got here a day after shares of Trump Media fell 8.57%.
The social media firm’s shares started publicly buying and selling on Nasdaq on March 26 with a gap worth of $70.90, rising to a excessive of practically $80 that day.
However since then the share worth has fallen.
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The firmThursday’s market cap is $4.43 billion, considerably decrease than the extent when shares started buying and selling final month, however nonetheless comparatively excessive contemplating the corporate’s monetary outcomes final 12 months. Trump Media reported income of simply $4.1 million in 2023 and a internet lack of $58 million.
Trump Media owns the Fact Social app, which Trump repeatedly makes use of to speak with followers.
Trump owns virtually 60% of the corporate’s shares. As of Thursday’s shut, its shares are value $2.55 billion on paper, about half of what they had been value two weeks in the past.
Underneath the phrases of a merger with a shell firm that took Trump Media public, Trump won’t be allowed to promote his shares for six months from the March 22 deadline of that deal.
Trump is the presumptive Republican presidential nominee.
