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The share price of Trump media closed trading down 8.57% on Wednesday, putting the company’s market capitalization below $4.7 billion.
DJT shares closed at $34.26.
That’s well below the $70.90 the stock opened at on March 26, its first day as a public company.
And it’s nearly $2.70 per share lower than the closing price of former shell company Digital World Acquisition Corp. on March 22, the day DWAC shareholders approved the merger with Trump Media, which took the company public days later.
Omar Marques | Light rocket | Getty Images
Trump Media’s stock price has fallen 44.71% since the beginning of the month.
The company’s largest shareholder is former President Donald Trump, who owns nearly 60% of the shares. Trump’s shares were worth less than $2.7 billion as of Wednesday’s close, a sharp decline from their paper value of more than $5 billion two weeks ago.
Trump Media, which owns the Truth Social app, reported 2023 revenue of just $4.1 million and a net loss of $58 million for the year.
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2024-04-10 20:19:15
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