Shares of Trump Media & Technology Group (DJT), the parent company of Truth Social, plummeted 5% on Wednesday to $34.47 as investors remain uncertain about the company's prospects following Donald Trump's return to the White House.
DJT stock has been struggling for direction since Trump's victory in the presidential election last November. While the stock was initially seen as a proxy for Trump's chances of winning, it has fallen 31% from its recent peak of $51.51 in the week before the election as investors are now unsure what the future holds for the company with Trump back in power.
The Wall Street Journal's stocks-to-watch report on Wednesday also briefly mentioned that DJT shares declined in premarket trading.
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