Truth Social owner Trump Media & Technology Group has gone ice-cold. The conservative social media company has lost roughly half its market value since May 30, the day former President Donald Trump was convicted of 34 felony counts in a hush money trial. Trump Media’s volatile share price tumbled another 5% on Friday , leaving it down by a staggering 50% in the span of just three weeks.
“When a company’s stock drops significantly, you typically start to see value investors take interest, but that’s not the case with meme stocks,” said Kennedy. Trump Media was already having a bad June, and then it got even worse when the company announced the Securities and Exchange Commission approved its registration statement. The green light from regulators clears the way for early investors to exercise warrants they hold in the company to buy more shares.
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Source: Newsweek - 🏆 468. / 52 Read more »