CRASH AND BURN

Trump Media Shares Plunge and Wipe Out Election Victory Gains

The company continued its wild ride even after Donald Trump won re-election this week.

Trump Media share prices plummeted on Thursday, wiping out the post-election gains that briefly made Donald Trump a much wealthier man. As Trump looked to be headed for victory Wednesday morning, the company’s stock skyrocketed by 35 percent in premarket trading. As a result, the value of the president-elect’s shares shot up from $3.9 million to $5.3 million at the opening bell. At the end of regular trading, the stock was still up by a more modest 5.9 percent. But on Thursday, the share price plunged by 20 percent during morning trading, CNBC reported, eliminating the electoral bump. Throughout the election, the share price for Trump Media & Technology, which operates the social media platform Truth Social, fluctuated wildly based on its majority shareholder’s perceived chances of victory. The end of the election doesn’t seem to have brought an end to the share price’s wild ride. One thing has remained consistent, though. The company released an earnings report on Tuesday saying it had lost $19.2 million in the third quarter of this year. That’s on top of $58.2 million it lost in 2023 and $28.5 million it lost during the first half of 2024.

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Janna Brancolini

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