Trump Media & Technology Group Stock Forecast: DJT falls 4% as conviction takes its toll

Trump Media stock rotates 4% lower after gaining in premarket. Donald John Trump was convicted of 34 felony counts for falsifying business records on Thursday. New York state jury was unanimous on all counts against former President. DJT stock support sits near $42 if shares fall out of $45 to $50 consolidation zone. Trump Media & Technology Group stock is sliding 4% on Friday following Thursday’s post-market conviction of namesake Donald John Trump, the former US president.

These stocks normally are beaten down names that appear to have an uncertain or dour future based on falling sales figures or rising losses. Interest in these names normally comes from either belief in a turnaround story or its heavy short ratio. How do meme stocks become popular? Online investing forums like Reddit’s r/WallStreetBets are known to be breeding grounds for meme stocks. Normally, some small group of posters begin making memes of a stock they are buying.

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