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Trump Media shares drop more than 6% after trading day begins

Pelican Press

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Trump Media shares drop more than 6% after trading day begins

Jonathan Raa | Nurphoto | Getty Images

The price of Trump Media shares quickly dropped by more than 6% in the first half hour of trading Friday morning.

The latest price fall for DJT continued a slide that included a 5.4% drop on Thursday, and a more than 8.5% decline on Wednesday.

The shares of Trump Media, which owns the Truth Social app, have dropped by more than 47% month-to-date.

Former President Donald Trump is the biggest shareholder in the company, owning nearly 60% of its stock.

Trump Media began public trading of its shares on March 26, with an opening price of $70.90, hitting a high of nearly $80 later that same day.

The company a day earlier had merged with a publicly traded shell company, Digital World Acquisition Corp., which was itself created to merge with a private firm to take it public.

This is developing news. Check back for updates.

Read more CNBC politics coverage





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Breaking News: Politics,Politics,Breaking News: Markets,Markets,Social media,Business,Trump Media & Technology Group Corp,Donald Trump,Donald Trump,business news
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