MW Trump Media's 'DJT' stock battled back, but still suffered 4th-straight loss

By Tomi Kilgore

Trump's Truth Social gets tacit White House endorsement, but stock falls further below where it closed on Election Day

Shares of the parent of President Trump's social-media platform Truth Social reversed an early sharp loss to seesaw around the flatline on Thursday, but ended the day with a fourth-straight loss to fall further below where it closed on Election Day.

The continued weakness comes even after the White House effectively endorsed Truth Social, by linking to Trump's social-media post from late Wednesday about the appointment of Sean Curran as the Director of the U.S. Secret Service.

The stock $(DJT)$ closed down 0.2% at $33.55 after a volatile session, in which it traded down as much as 2.4% at its intraday low of $32.80 - it was down more than 4% in the premarket session - and up as much as 2.8% at its high of $34.55.

It crossed above and below the previous day's closing price of $33.61 multiple times throughout the session before ending the day in the red.

The stock has now fallen 18.2% amid a four-session losing streak, and has closed below the Nov. 5 closing price of $33.94 for a second straight day.

At its post-election closing peak of $42.91 on Jan. 13, the stock was 26.4% above the Nov. 5 close.

Since Trump Media's stock started trading with Trump's initials as its ticker in March 2024, it has effectively acted as a proxy for his chances to return to the White House.

But that no longer seems to be the case. Even the meme coin launched over the weekend, Trump Coin (TRUMPUSD), hasn't fared very well in the past few days. It bounced 1.1% in recent trading, but was still down more than 40% its intraday peak seen in early Monday trading.

Meanwhile, Trump certainly has an interest in the fate of Trump Media's stock. He owns 114.75 million shares, or a 53% stake in the company, all of which he moved into a revocable trust in late December.

At Thursday's closing price, the value of that stake would be worth about $3.85 billion.

-Tomi Kilgore

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January 23, 2025 17:42 ET (22:42 GMT)

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