MW Trump Media's 'DJT' stock keeps dropping and is now below pre-election prices

By Tomi Kilgore

Trump's Truth Social gets tacit White House endorsement, but stock on track to fall nearly 20% amid 4-day losing streak

Shares of the parent of President Trump's social-media platform Truth Social continued to sell off early Thursday, and have given back everything they gained since the election.

The continued decline in Trump Media and Technology Group Corp.'s stock $(DJT)$ comes even after the White House effectively endorsed Truth Social, by linking to Trump's post about the appointment of Sean Curran as the Director of the U.S. Secret Service.

The stock slumped 1.2% in premarket trading toward a seven week low, to follow an 18% tumble over the past three days. It closed Wednesday at $33.61, below the Nov. 5, election-day close of $33.94.

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 was shedding 8.7% in recent trading, to trade more than 40% below 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 Wednesday's closing price, the value of that stake would be worth about $3.86 billion.

-Tomi Kilgore

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January 23, 2025 09:09 ET (14:09 GMT)

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