Shares of Trump Media, the company behind Truth Social majority-owned by former President Donald Trump, were down more than 14%.
Trump Media has been in a slump since a New York jury convicted the presumptive Republican presidential nominee on 34 felony counts of falsifying business records. That price is more than 40% lower than it stood at the start of June, when Trump Media stock cost just over $49 a share.Trump's 114,750,000 shares in the company, worth more than $5.6 billion at the beginning of the month, would be worth around $3.2 billion based on Thursday's stock moves.
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