Shares of Trump Media, the company that owns the Truth Social app, have experienced a significant drop in value, with DJT shares selling for $35.15, well below the opening price of $70.90. Former shell company Digital World Acquisition Corp. also saw a decline in share price. Trump's shares, which were worth over $5 billion, are now valued at less than $2.8 billion.
DJT shares were selling for $35.15 at 12:06 p.m. ET, well below the $70.90 that the stock opened trading at on March 26, its first day as a publicly traded company.
Shares fell slightly under the $36.94 per share closing price of the former shell company, Digital World Acquisition Corp. on March 22, the day DWAC shareholders approved the merger with Trump Media that took that company public days later.On Wednesday shares fell slightly under the $36.94 per share closing price of the former shell company, Digital World Acquisition Corp. on March 22, the day, who holds a nearly 60% stake in the company. Trump's shares were worth less than $2.
Trump Media, which owns the Truth Social app, reported revenue of just $4.1 million for 2023, and a net loss of $58 million for the year.Kremlin hints at future Putin-Xi meeting; Russia scrambles to deal with massive floodsFormer Trump executive Allen Weisselberg sentenced to five months in jail for perjury
Trump Media Truth Social Shares Stock Value Decline Digital World Acquisition Corp.
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