The stock price of Trump Media drops by 22%, affecting the president's campaign rallies before the election.
- Intraday trading saw a significant drop in the shares of Trump Media, dampening the enthusiasm generated by the 2024 election rally.
- Nearly 57% of the company, which trades as DJT on the Nasdaq, is owned by the Republican presidential nominee Donald Trump.
- Trump has vowed not to sell his shares.
On Wednesday, the stock price of dropped more than 22%, dampening the impressive rally that had boosted former President Donald Trump's net worth by billions of dollars in anticipation of the 2024 election.
On Wednesday, DJT stock, which had closed at $51.51 per share the previous day, was trading below $40 around noon ET.
Nearly 57% of the company is owned by Trump, the Republican presidential nominee, according to recent regulatory filings.
His stake decreased by nearly $1.4 billion from Tuesday afternoon to midday Wednesday, leaving it worth around $4.5 billion.
Trump has vowed not to sell his shares.
This is developing news. Please check back for updates.
Politics
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