HomeFinance NewsTrump stock investors lost half their money quickly.

Trump stock investors lost half their money quickly.

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The shares of Trump Media & Technology Group have undergone a significant decline in value, with the Truth Social owner’s share price dropping 5% on a recent day, marking the seventh loss in the past eight days. The stock, which initially soared to nearly $80 on its Nasdaq debut, is now trading below $31, causing substantial losses for investors who bought at the peak price of $66.22. Former President Donald Trump’s net worth has also been affected by the steep selloff, as his stake in the company has decreased in value from $5.2 billion to about $2.4 billion.

Despite the downward trend in Trump Media stock, the company has reiterated its commitment to upholding free speech principles and has garnered support from retail investors who believe in its mission. However, critics and experts have raised concerns about the company’s financial performance, with Trump Media disclosing a loss of $58 million in 2023 on minimal revenue of $4.1 million. Some industry figures, such as billionaire Barry Diller, have labeled Trump Media as a “scam” and cautioned against investing in the company, emphasizing the disparity between its valuation and financial metrics. Despite the recent decline, Trump Media stock remains up over 74% for the year, taking into account gains from its merger with a blank-check company.

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