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Market correction: Trump stock tumbles after buoyant debut

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After a winning debut on Wall Street last month, Donald Trump's media group has suffered a bruising retreat, denting the Republican candidate's wealth as he faces legal challenges. Since entering public markets on March 26, Trump Media and Technology Group has seen its market value plummet from around $11 billion to under $4.5 billion.

Donald Trump still stands to make plenty of money with the listing of his media group, which owns the app Truth Social. Photo: OLIVIER DOULIERY / AFPAfter a winning debut on Wall Street last month, Donald Trump's media group has suffered a bruising retreat, denting the Republican candidate's wealth as he faces legal challenges.

TMTG's ticker is"DJT," Trump's initials. The company's principal asset is"Truth Social," the social media platform launched for the ex-president after he was kicked off Twitter andstay informed and follow us on Google News! "I can't think of any companies that currently have such a wide gap between revenue and market cap," Kennedy said.

"I'd say this is a meme stock," said Kennedy, alluding to GameStop and a handful of other equities that caught fire in early 2021 after being embraced by users of the Reddit platform.

 

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