Trump Media shares closed Monday at $37.17, down 8.43%, with a market capitalization of slightly over $5 billion.
DJT’s grim start to the trading week on the Nasdaq stock exchange follows a 12% drop in its share price on Friday.
Trump Media, which controls the Truth Social app used by its largest stakeholder, former President Donald Trump, hit a high of nearly $80 two weeks ago after going public.
However, it has declined since then. On Monday, the stock price fell by 10% or more.
Trump Media’s market capitalization fell to $5.08 billion on Monday, down from roughly $8.4 billion when it first traded in late March.
Trump personally controls 78.75 million shares of its company, which was worth almost $2.93 billion at Monday’s close on paper.
The likely Republican presidential nominee is now restricted from selling his shares for six months under the terms of a merger agreement that took the company public, but the board has the authority to relax the lock-up provision.
If DJT’s stock price meets certain criteria over the following three years, Trump will earn an additional 36 million shares.
