Shares of Trump Media & Technology Group ( DJD ) fell Monday afternoon after former President Donald Trump returned to the X platform, formerly known as Twitter, hours earlier. A much awaited conversation With Elon Musk.
This is the first time Trump has posted on his X account since August 24, 2023.
Shares of the parent company of Trump’s social media platform Truth Social fell about 5% to trade near $25.
Friday, DJT reported Second-quarter results revealed a net loss of $16.4 million, half of which was tied to costs related to the company’s SPAC deal. The company reported revenue of just under $837,000 in the quarter ended June 30, a 30% year-over-year drop.
In April, a Updated regulatory filings Trump Media reported sales of just over $4 million as net losses hit nearly $60 million for the full year ended Dec. 31. The company warned that losses would continue amid challenges to higher profitability.
Shares of DJT have been in flux in recent months, oscillating between highs and lows.
In June, stocks rose (and then fell) after incumbent Joe Biden stumbled in his first presidential debate with Trump in 2024. Biden dropped out of the race a month later.
After Biden’s announcement, stocks are under pressure as the presumptive Democratic presidential nominee, Vice President Kamala Harris, has pulled ahead of Trump. In a recent poll.
In May, Trump Found guilty The verdict sent the stock down 5% the day after the conviction — on all 34 counts of falsifying business records with intent to influence the 2016 presidential campaign.
Trump Media went public on the Nasdaq Connecting Digital World Acquisition Corporation with Special Purpose Acquisition Corporation.
Shares have fallen about 50% since the company’s public debut in late March.
Trump founded Truth Social after being kicked out of major social media apps like Facebook ( META ) and Twitter following the January 6, 2021 Capitol riots. Trump was added back to those sites.
Trump maintains approx 60% share In DJT. At current levels of about $25 per share, Trump Media has a market capitalization of about $3.39 billion, giving the former president a stake worth about $2 billion. After the company’s public debut, Trump’s stake was worth just $4.5 billion.
In late April, the stock hit a milestone that netted Trump an additional $1.2 billion in cash. Shareholders are still subject to a six-month lock-up period before they can sell or transfer shares.
Alexandra Canal Senior reporter at Yahoo Finance. Follow her on X @alli_kanal, LinkedIn, and email [email protected].
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