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Trump Media & Technology Group's stock price reversed this week after more than a month of gains, a correction that reduced the net worth of former President Donald Trump, the company's majority shareholder, by more than $1 billion.
The stock, which trades under the ticker DJT, plunged 22% on Wednesday, its worst day on record. The decline continued Thursday, with shares of Truth Social's parent company suspended twice this morning due to volatility.
Truth social network logo. (Reuters/Dado Ruvic/Illustration/Reuters Photo)
| ticker | safety | last | change | change % |
|---|---|---|---|---|
| DJT | Trump Media & Technology Group Corporation | 33.94 | -0.40 |
-1.16% |
Trump Media & Technology Group Corporation
DJT stock was down more than 13% to $34.76 as of noon ET Thursday.
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Still, Trump Media's stock price has risen nearly 120% in the past month, nearly doubling Trump's net worth to $8 billion. According to Forbestracks the wealth of the world's richest people.
Former President Trump gestures as he walks on stage at a campaign rally in Coachella, California, on October 12. (Tama Mario/Getty Images/Getty Images)
Trump Media's value ballooned to more than $10 billion earlier this month as the Republican presidential candidate's campaign continued to gain momentum against his opponent, Vice President Kamala Harris.
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The stock is popular among retail traders and is seen as a speculative bet on Mr. Trump's chances of securing a second four-year term as president.
Former President Trump and Vice President Kamala Harris appear on a spin room screen during the second presidential debate at the Pennsylvania Convention Center in Philadelphia on September 10. (Hannah Baier/Bloomberg via Getty Images/Getty Images)
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The reason for DJT's sharp decline this week is unclear, given that the company has not made any major announcements and there have been no major changes in presidential election polling in recent days, with the race between Trump and Harris remaining clear. It becomes. neck and neck.
Reuters contributed to this report.
