Reported 11 months ago
Trump Media & Technology Group, owner of Truth Social, has seen its stock prices drop by half since May 30 following former President Donald Trump's legal troubles. The company's volatile share price fell an additional 5% on Friday, totaling a 50% decline in just three weeks. The selloff has led to an approximate $3 billion reduction in Trump's net worth, with concerns that the company, despite its high valuation, generates minimal revenue, making it vulnerable to further losses. The recent approval by regulators for a financial move that may dilute shareholders' holdings has exacerbated the situation for the conservative social media company.
Source: YAHOO