The Republican presidential candidate and former president’s social media platform “Truth Social” is shown on a cell phone on March 25, 2024 in Chicago.
Scott Olson | Getty Images
trump media Shares closed down nearly 10% on Tuesday. A wild trading session ensued, with the Truth Social owner’s stock suddenly plummeting and volatility pausing.
DJT stock, which was up more than 13% early Tuesday afternoon, suddenly fell more than 6% as of the day’s trading halt. Trump Media continued to fall even after a five-minute trading halt was lifted at 2:47 p.m. ET.
Trump Media settled for $27.06 per share.
Stock prices soared during a highly volatile trading session. Over 97 million shares Hands traded — several times the company’s 30-day average trading volume.
The figure was the highest daily trading volume since Trump Media began listing on the Nasdaq in late March following a merger with a blank check company.
Trump Media (DJT) stock price
The busiest trading day to date was July 15, the first trading day after Donald Trump, the company’s majority shareholder and Republican presidential candidate, narrowly lost his life in an assassination attempt at a campaign rally in Pennsylvania. It was day.
Many individual investors in Trump Media are fans of the former president, and analysts say they buy and sell stocks as a way to support him or bet on his chances of defeating Democratic candidate Kamala Harris. This suggests that there are many cases.
Tuesday’s decline coincided with developments in the presidential election that his supporters had touted as good news, reversing weeks of stock gains.
Some online betting markets recently turned in Mr. Trump’s favor after weeks of close races or a slight lead for Ms. Harris. Odds and gambling platforms are not replacements for political polls, as they do not use the techniques used in traditional political polls.
Trump owns nearly 57% of Trump Media, according to a Sept. 5 regulatory filing. Forbes estimates his stock is worth about $3 billion, more than half of his paper net worth.
President Trump and other company insiders were prohibited from selling their company stock until September 19, when the lock-up agreement expired.
Trump had vowed not to sell his company’s stock. However, days after the lockup was lifted, Trump Media revealed that another major shareholder, United Atlantic Ventures, had offloaded nearly all of its 11 million shares.
in society of truth At 1:37 a.m. ET on Tuesday morning, President Trump wrote, “I love the truth, the real voice of America!”
