- The share price of Trump Media stock closed at $37.17, an 8.43% drop, leaving its market capitalization hovering just above $5 billion.
- DJT's bleak start to the trading week on the Nasdaq stock exchange came on the heels of a 12% decline in its share price on Friday.
- Trump Media, which owns the Truth Social app used by its biggest shareholder, former President Donald Trump, had a high price of nearly $80 two weeks ago after it began trading as a publicly held company.
- Trump is the presumptive Republican presidential nominee.
The share price of Trump Media stock closed at $37.17 Monday, an 8.43% drop, leaving its market capitalization hovering just above $5 billion.
DJT's bleak start to the trading week on the Nasdaq stock exchange came on the heels of a 12% decline in its share price on Friday.
Trump Media, which owns the Truth Social app used by its biggest shareholder, former President Donald Trump, had a high price of nearly $80 two weeks ago after it began trading as a publicly held company.
Get top local stories in Connecticut delivered to you every morning. Sign up for NBC Connecticut's News Headlines newsletter.
But it has slumped since then. At times on Monday, the stock's price was down 10% or more.
Trump Media's market cap, which had hit around $8.4 billion after it began trading in late March, ended Monday at $5.08 billion.
Trump personally owns 78.75 million shares of its stock, which was worth about $2.93 billion at Monday's close, on paper at least.
Money Report
The presumptive Republican presidential nominee is currently barred for six months from selling his shares under the terms of a merger agreement that took the company public, but its board has the power to lift that lock-up provision.
Trump stands to receive another 36 million shares of DJT if the stock hits certain share price benchmarks over the next three years.