Trump Media stock plunge, many lose millions

Donald Trump’s entry into social media via Trump Media & Technology Group and Truth Social has taken a tumultuous turn.

Trump, who owns 60% of the shares, has seen the value of his stake plummet.

The value of his shares in Trump Media & Technology Group fell from $4.9 billion to just $2 billion in a short space of time.

What’s more, TMTG’s stock price fell below $17, before rising just above it…

…erasing virtually all the gains made since last January.

Truth Social’s core platform seems to be struggling to attract a wider audience, raising concerns about its long-term viability in an extremely competitive social media sector.

The share lock-up agreement in place for TMTG, designed to stabilize prices following the IPO, will expire on September 19.

This suggests that Trump could liquidate his shares immediately thereafter, putting the stock’s future in an uncertain position.

Donald Trump’s recent return to X (formerly Twitter) is also unlikely to improve Truth Social’s popularity.