Truth Social’s stock plunges following Trump’s conviction
Trump Media & Technology Group’s stock took a significant hit, dropping nearly 9% following former President Donald Trump’s guilty verdict in his Manhattan hush-money trial. As the majority shareholder of TMTG, Trump’s preferred social media platform, Truth Social, was impacted. This decline may affect Trump’s net worth due to his substantial investment in the company. The stock closed at $51.84 before falling in after-hours trading in response to the verdict. Trump faces sentencing in July after being found guilty on 34 counts of falsifying business records. For more details, visit The Washington Examiner.
Trump Media & Technology Group’s stock price dropped almost 9% in the aftermath of majority shareholder and former President Donald Trump’s guilty verdict in his Manhattan hush-money trial.
TMTG owns Truth Social, Trump’s preferred social media platform. The stock’s drop will influence Trump’s net-worth given his large investment into the company.
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The stock closed at $51.84 Thursday before dropping in after-hours trading in a clear reaction to Trump being found guilty by a Manhattan jury.
The stock had been steadily rising since May 23, and it reached its lowest levels since May 28. TMTG stock has often been volatile for traders, and reached highs of about $66 in March before plummeting to a low of about $23 in mid-April.
Trump was found guilty of 34 counts of falsifying business records and will face sentencing in July.
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