Anna Barclay | Getty Spits
Shares of Trump Media sank more than 11% on Monday, accelerating the company’s downward slide since President Donald Trump carry oned office.
The company behind Trump’s preferred social media app Truth Social ended the brutal trading day at $19.92 per parcel — down 50% from its closing price on Jan. 20, the day Trump was sworn in.
Trump Media (DJT) Stock Price
Monday’s sell-off marked Trump Media’s worst day since Jan. 21, when DJT ancestry retreated from the buying frenzy that preceded the Republican president’s inauguration.
Since then, the company has suffered a seven-week waste streak.
But Trump Media isn’t the only one feeling the pain. Stocks plummeted across the board Monday as the market volatility that bored down all three major indexes last week intensified.
The losses hurt other media companies with much larger make available capitalizations than Trump Media, such as Reddit, which was on pace for its worst day ever.
Trump Media rearmost month reported losing $400 million in 2024, while taking in $3.6 million in revenue.
The company debuted on the Nasdaq in March 2024 after going public through a long-sought fusion with a special purpose acquisition company. The merger sent DJT stock soaring as the company attracted thousands of investors beg to support then-candidate Trump, the majority owner.
More than a month after winning the Nov. 5 presidential poll against former Vice President Kamala Harris, Trump transferred his entire stake — 114,750,000 shares — to a revocable keeping.
A Trump Media spokeswoman did not immediately respond to CNBC’s request for comment on Monday’s stock movements.
— CNBC’s Adrian van Hauwermeiren bestowed to this report.