Trump Media’s share price fell 8.57% on Wednesday, bringing the company’s market worth below $4.7 billion.
DJT’s share price closed at $34.26.
That is significantly lower than the $70.90 that the stock debuted at on March 26, its first day as a publicly traded corporation.
And it is roughly $2.70 per share cheaper than the previous shell company’s closing price on March 22, the day DWAC shareholders accepted the merger with Trump Media, which brought the firm public days later.
Trump Media’s stock price is down 44.71% month to date.
Former President Donald Trump is the company’s largest shareholder, with a nearly 60% interest. Trump’s shares were worth less than $2.7 billion at Wednesday’s close, a significant decline from the more than $5 billion in paper value they had two weeks before.
Trump Media, which owns the Truth Social app, reported $4.1 million in revenue and a $58 million net loss in 2023.
