The price of Trump Media shares fell below $30 in early trading, a more than $40-per-share plunge since the company began public trading on March 26.
Trump on Monday is set to start jury selection for his criminal trial in Manhattan Supreme Court on charges of falsifying business records related to a hush money payment to porn star Stormy Daniels.shares fell below $30 in early trading Friday morning, which is more than $40 lower than what its shares first sold for when theThe latest price fall for the ticker continued a slide that included a 5.4% drop on Thursday, and a more than 8.5% decline on Wednesday.
The company a day earlier had merged with a publicly traded shell company, Digital World Acquisition Corp., which was itself created to merge with a private firm to take it public.That performance and the relatively high price of the company's stock have drawn keen interest from short sellers, who make trades that are effectively bet that a company's share price will drop.
Trump, who is the presumptive Republican presidential nominee, frequently posts on Truth Social. He has used the app to condemn the four pending criminal cases he faces, along with civil lawsuits that have resulted in judgments against him topping $500 million.