Trump Media shares hit post-merger low as DJT continues to slide

Former President’s Stocks Donald TrumpThe social media company’s on Monday hit its lowest price since it went public transaction above Nasdaq nearly five months after the merger.

Trump MediaThe company that owns the social messaging platform favored by the Republican presidential candidate Social truthwas trading at just under $22.40 a share before noon Eastern time, down nearly 3% on the day.

The stock’s previous low was trading below DJT The stock’s decline came in mid-April when the stock price plummeted to $22.55 after the company soared in a wild first trading day on the stock exchange.

The notoriously volatile stock’s downward trajectory over the past month has coincided with a series of shocking developments for Trump, who is both Trump Media’s largest shareholder and a key target for Truth Social users.

Stock prices soared on July 15, the first trading day after Trump’s near-death assassinated at a campaign rally in western Pennsylvania.

Trump was formally nominated at the Republican National Convention two days later, cementing the momentum he had built against President Joe Bidenthe person at that time considered to be in authority Democratic candidate.

But Trump’s growing lead suddenly narrowed when Biden dropped out of the race on July 21 and endorsed Vice President Kamala Harris to replace him as leader of their party.

The history switch has been flipped betting market‘ views on who will win in November. Harris is currently favored over Trump.

Trump Media said in Application submitted as required that its success is at least partly tied to Trump’s popularity and reputation.

Some Trump supporters appear to view the company’s stock as a way to back the former president or bet on his chances of winning a second term.

On August 9, Trump Media reported a loss of more than $16 million for financial quarter ended June 30, while posting just $837,000 in revenue during the same period.

The company said about half of its loss was due to ongoing legal costs related to its merger with special purpose acquisition company Digital World Acquisition Corp., which was delayed more than two years after it was announced.

Despite its meager revenue, the company now has a market capitalization of nearly $4.5 billion thanks to its stock price.

Trump is bound by a licensing agreement that requires him to post “non-political” posts on the social network Truth Social first.

But he is free to post political messages on any site without restriction — and he recently exercised that ability by posting to X and TikTok, two social media giants with larger followings than Truth Social.

Trump on August 12 interviewed by Tesla CEO Elon Musk during a livestream on Musk-owned social media app X.

Trump has posted frequently on X, formerly known as Twitter, since the interview.