Anti-Trump supporters are seen celebrating after Donald Trump's guilty verdict is decided.
Trump Media's stock dropped nearly 9 percent in after-hours trading Thursday. He owns 65 percent of the company and stands to lose $532 million. FollowShares of Trump Media & Technology Group, the owner of social networking site Truth Social, plummeted Thursday after former President Donald Trump was convicted in his hush money trial.
The stock, which trades under the ticket symbol 'DJT,' has been extraordinarily volatile since its debut in late March, joining the group of meme stocks that are prone to ricochet from highs to lows as small-pocketed investors attempt to catch an upward momentum swing at the right time. It was trading at $48.44 after the closing bell. It had closed at $51.12 during regular hours on Thursday, which gave it a valuation of $9 billion.
A majority of Trump’s fortune stems from his $5.9 billion stake in Trump Media - which looks to lose $5.4 billion at the after hours share price. Prosecutors told of a plot by Trump to 'corrupt' the 2016 election by hiding a $130,000 hush money payment by his 'fixer' Michael Cohen to porn star Stormy Daniels.
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