The stock is seen by some retail traders as a bet on whether Trump would win a 2nd term as UnitedStates president.
Published On 20 Aug 2024
Shares of Trump Media & Technology Group (DJT), which is majority-owned by previous United States President Donald Trump, haveactually sunk to record lows following the Republican governmental prospect’s current return to competitor social media platform X and his decreasing lead in surveys for the upcoming governmental election.
Trump Media shares dropped on Tuesday to as low as $21.33, down more than 4 percent. The stock endedup down 3.7 percent at $21.42, marking the 8th successive session of losses.
Trump’s diminishing lead in the surveys and election wagering markets in current weeks has likewise hit the stock, which hasactually been seen by some retail traders as a bet on whether Trump would win a 2nd term.
“I’ve constantly looked at Truth Social and DJT as a ballot system versus an financialinvestment system,” stated Lou Basenese, president and chief market strategist at MDB Capital in New York. “The evaluation neverever made sense in relation to the basics.”
Earlier this month, Trump Media – whose primary property is the Truth Social app – reported a quarterly loss of $16.4m and income of simply $837,000. The business has a market worth of about $4.3bn, down from more