Shares of Trump Media & Technology Group (NASDAQ: DJT), the parent company of Truth Social, took a steep dive on Monday, dropping more than 11% in afternoon trading. The decline comes amid a broader market selloff and marks a continued downward trend for the stock since President Donald Trump’s inauguration in January.
The company, majority-owned by Trump, saw its stock soar between his presidential election win in early November and his second-term swearing-in. However, the momentum has since reversed sharply. On January 17, the last trading day before the inauguration, Trump Media shares closed at $40.03. By Monday, the stock had fallen nearly 12% to $19.80, erasing half its value since Trump took office.
In a mid-February press release, Trump Media shared its full-year financial results and outlined plans to explore mergers or acquisitions. It also emphasized a strong cash position, with over $770 million in cash and equivalents on its balance sheet. Despite these updates, investor confidence appears to be waning.
Trump Media (NASDAQ: DJT) stock had been a hot topic during the election season, riding a wave of enthusiasm tied to Trump’s political comeback. However, the sharp downturn since his swearing-in suggests a shift in sentiment, leaving shareholders to grapple with the stock’s fading momentum.
