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Trump Media stock down 50 per cent since former president’s conviction

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Social Media,Media,Securities And Exchange Commission

Trump Media’s stock has also been weighed down because securities regulators this week allowed early investors in the company to potentially sell tens of millions of shares

Former President Donald Trump’s stake in his social media company is worth half of what it was before his conviction on charges of falsifying business records to cover up a sex scandal during the 2016 presidential campaign.

By any measure, Trump’s stake is still worth a tremendous amount of money. But the social media company’s shares have been extremely volatile, as highlighted by the steep decline this month. The big swing in price is a potential sign of more volatility to come when a provision that bars Trump from selling his shares expires in September, a few weeks before the presumptive Republican nominee faces President Joe Biden in a presidential election rematch.

This week, shares of Trump Media have fallen more than 20 per cent on heavier than usual trading volumes.

 

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