Trump Media stock value had fallen by nearly 50% in the weeks since former President Donald Trump was found guilty of falsifying business records.
The company recently saw its stock price fall by nearly 50% in the weeks after former President Donald Trump was found guilty of falsifying business records.on the Nasdaq, was trading around $33 a share on much higher than average volume as of 10:50 a.m. ET. The stock closed Friday at just over $27.
Shares of Trump Media sunk even lower last week, after its registration of additional shares was declared effective by the Securities and Exchange Commission. The clearance threatened to dilute the stock price by adding more tradable shares to the company's float. On Friday, Trump Media said it expected to rake in more than $69.4 million in proceeds from the warrants exercised on Thursday and Friday.
After completing a lengthy public merger with a special purpose acquisition company in March, the newly formed Trump Media shot up by double digits in its frenzied Nasdaq debut. But after touching a per-share high of $79.38, the stock quickly cratered, falling to a share price of nearly $22.Trump Media currently has a market capitalization of nearly $6 billion.
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