Trump media Shares closed down nearly 10% on Tuesday after a wild trading session that was briefly halted by volatility when Truth Social's owner's share price suddenly plunged.
DJT shares, which had risen greater than 13% early Tuesday afternoon, abruptly fell greater than 6% on the day the halt was made. Trump Media continued to fall after the five-minute trading halt was lifted at 2:47 p.m. ET.
Trump Media closed at $27.06 per share.
The stock price fluctuated during an especially volatile trading session greater than 97 million shares traded hands – a multiple of the corporate’s average 30-day trading volume.
The figure marks Trump Media's busiest day because it began publicly trading on the Nasdaq in late March following a company merger with a blank-check company.
Trump Media (DJT) stock price.
The busiest trading day thus far was July 15, the primary session after the corporate's majority owner, Republican presidential candidate Donald Trump, narrowly survived an assassination attempt at a campaign rally in Pennsylvania.
Many of Trump Media's retail investors are fans of the previous president, and analysts suspect they often buy and sell the stock to support him or bet on his probabilities of beating Democratic nominee Kamala Harris.
Tuesday's decline reversed a weeks-long rise in stocks that coincided with developments within the presidential campaign that his supporters had touted nearly as good news.
A handful of online betting markets have recently moved in Trump's favor after weeks of either a neck-and-neck race or a slight lead for Harris. Odds and gambling platforms don’t use traditional political polling methods and are subsequently not an alternative to political polling.
Trump owns nearly 57% of Trump Media, based on a Sept. 5 regulatory filing. Forbes estimates his stake is value about $3 billion, greater than half his net value on paper.
Trump and other company insiders were barred from selling their shares until September 19, when a lock-up agreement expired.
Trump had vowed to not sell his stocks. But a number of days after the suspension was lifted, Trump Media announced that one other major shareholder, United Atlantic Ventures, had divested just about all of its stake of 11 million shares.
In one truth social At 1:37 a.m. ET Tuesday morning, Trump wrote, “I LOVE THE TRUTH, THE TRUE VOICE OF AMERICA!”
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