Current:Home > InvestTrump Media stock falls after Donald Trump convicted in criminal hush money trial-LoTradeCoin
Trump Media stock falls after Donald Trump convicted in criminal hush money trial
View Date:2024-12-24 00:16:33
Shares of Trump Media & Technology Group fell as much as 15% as investors took stock of Donald Trump’s guilty verdict on all 34 felony counts in his criminal hush money trial.
The after-hours slide was the latest turbulent turn for Trump’s namesake social media company, which rises and falls with the former president’s fortunes. Trump owns 65% of the shares in the parent company of the Truth Social app.
The stock, which trades under the ticker “DJT,” recovered as trading continued, but remained down about 4% in the early evening Thursday.
Volatility has been the stock’s governing principle since it began trading after the merger with shell company Digital World Acquisition Corp. in March. It has swung wildly from a high of $79.38 a share at the close of March 26 to its lowest close of $22.84 on April 16.
Trump Media’s market cap of more than $9 billion rests almost entirely on the Trump brand and his loyal following, including small-time investors who’ve shown their support for him by propping up the stock.
Trump Media reported a first-quarter net loss of $327.6 million on less than $1 million in revenue.
A New York jury convicted Trump of falsifying documents ahead of the 2016 presidential election to cover up a payment he made to porn star Stormy Daniels.
Trump is scheduled to be sentenced on July 11, right before the Republican National Convention where he’s expected to be formally nominated for president.
veryGood! (97746)
Related
- Moana 2 Star Dwayne Johnson Shares the Empowering Message Film Sends to Young Girls
- Can I use my 401(k) as an ATM? New rules allow emergency withdrawals.
- Marathon swimmer says he quit Lake Michigan after going in wrong direction with dead GPS
- Pacific Northwest tribes are battered by climate change but fight to get money meant to help them
- Reds honor Pete Rose with a 14-hour visitation at Great American Ball Park
- Legionnaires’ disease source may be contaminated water droplets near a resort, NH officials say
- Early Harris-Walz rallies feature big crowds, talk of ‘joy’ and unsolicited GOP counterprogramming
- New weather trouble? Tropical Storm Ernesto could form Monday
- Review: 'Emilia Pérez' is the most wildly original film you'll see in 2024
- Sonya Massey's death: How race, police and mental health collided in America's heartland
Ranking
- Richard Allen found guilty in the murders of two teens in Delphi, Indiana. What now?
- Sifan Hassan's Olympic feat arguably greatest in history of Summer Games
- Watch: These tech tips help simplify back-to-school shopping
- Will Katie Ledecky Compete at the 2028 Los Angeles Olympics? She Says...
- Mega Millions winning numbers for November 12 drawing: Jackpot rises to $361 million
- Mega Millions winning numbers for August 9 drawing: Jackpot rises to $435 million
- Browns’ plans for move to new dome stadium hits snag as county backs city’s renovation proposal
- First Snow, then Heat Interrupt a Hike From Mexico to Canada, as Climate Complicates an Iconic Adventure
Recommendation
-
12 college students charged with hate crimes after assault in Maryland
-
How to get relief from unexpectedly high medical bills
-
RHONJ's Teresa Giudice Defends Husband Luis Ruelas Wishing Suffering on Margaret Josephs' Son
-
Pumpkin spice everything. Annual product proliferation is all part of 'Augtober'
-
Georgia State University is planning a $107M remake of downtown Atlanta
-
Off the Grid: Sally breaks down USA TODAY's daily crossword puzzle, At Last! Coffee!
-
Jordan Chiles bumped off podium as gymnastics federation reinstates initial score
-
Incarcerated fathers and daughters reunite at a daddy-daughter dance in Netflix documentary