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Jonathan Raa | Nurphoto | Getty Pictures
Thursday’s drop got here a day after Trump Media shares fell 8.57%.
The social media firm’s stock started public buying and selling on the Nasdaq on March 26 with a gap worth of $70.90, and soared to a excessive of almost $80 that day.
However the share worth has slumped since then.
The company‘s market capitalization as of Thursday is $4.43 billion, markedly decrease than the extent seen when shares started buying and selling final month, however nonetheless comparatively very excessive given the agency’s monetary outcomes final yr. Trump Media reported income of simply $4.1 million in 2023, and a web lack of $58 million.
Trump Media owns the Reality Social app, which Trump continuously makes use of to speak with followers.
Trump owns almost 60% of the corporate’s shares. As of Thursday’s shut, his shares are price $2.55 billion on paper, about half of what they had been price two weeks in the past.
Below the phrases of a merger with a shell firm that took Trump Media public, Trump is barred from promoting his shares for six months from the March 22 time limit of that deal.
Trump is the presumptive Republican presidential nominee.
