Trump Media Down Nearly 50 Percent For the Month As Ex-President’s Shares Lose More Than $2 Billion in Value

AP Photo/Evan Vucci

Former President Donald Trump’s company Trump Media has dropped by nearly 50% on the stock market since the start of June.

Moreover, shares owned by the presumptive Republican presidential nominee have lost more than $2 billion in value since the beginning of the month. Trump currently owns 114,750,000 shares in Trump Media, the company that controls Truth Social, which had a valuation of $5.6 billion at the start of June.

According to CNBC, Trump Media has been in a consistent decline following Trump’s conviction on 34 felony counts of falsifying business records by a Manhattan Jury. On Thursday, the company’s shares fell nearly 13% in a single trading session.

By midday Thursday, shares of the company, which trades as DJT, were approximately $27.50 on the Nasdaq. At the start of June, the company’s price was trading at more than $49 a share.

The continued downfall of the stock represents a significant loss for Trump as the majority owner of the company. Throughout the week, the stock has seen an accelerated decline with a near 10% fall on the previous trading day.

Per CNBC:

The stock fell nearly 10% in Tuesday’s session, on more than double the average trading volume. After the bell, Trump Media revealed that the SEC had declared its registration statement effective. The stock plunged more than 17% in post-market trading following the announcement.

The development authorized early investors in Trump Media to exercise warrants they hold in the company, and it allowed stockholders to publicly resell securities covered by the registration statement.