Current:Home > MarketsTrump Media stock price fluctuation: What to know amid historic hush money criminal trial -Clarity Finance Guides
Trump Media stock price fluctuation: What to know amid historic hush money criminal trial
View
Date:2025-04-26 13:36:56
Amid campaigning, elections and court cases, presumptive Republican presidential nominee Donald Trump has seen his wealth drop.
The stock of Trump Media & Technology Group, parent company of Trump's social media platform Truth Social is a key component of the former president’s net worth since the company debuted on the stock market in March.
Trump owns nearly 60% of the company with 78.75 million shares. When the share price tanked in April, the former president fell off the Bloomberg Billionaire's Index after joining it for the first time two weeks earlier.
Experts have compared Trump Media to meme stocks like GameStop and AMC, buoyed by popular support on social media rather than their success as a business.
Here is how Trump’s stock is performing as he stands trial in a Manhattan over 34 counts of falsifying business records:
Live updates |Trump 'hush money' trial excused juror: 'You felt like history was happening'
Trump Media stock price
At close on April 16, Trump Media & Technology Group Corp share price fell to $22.84, down 14.17% today.
How parent company of Truth Social went public
Trump founded his social media company in 2021 after being booted from other major platforms following the January 6 riots at the U.S. Capitol.
Trump Media went public on the Nasdaq on March 26, 2024 through a merger with shell company Digital World Acquisition Corp., a special purpose acquisition company, or SPAC. The merger was announced in 2021.
Trump's debut on the stock market was splashy, with Trump Media shares soaring, helped partly by – and to the delight of – his loyal MAGA supporters.
But regulatory filings show the company was operating at a loss in 2023, making approximately $4 million in revenue while losing more than $58 million. Accounting firm BF Borgers CPA PC said in a letter to Trump Media shareholders the operating losses “raise substantial doubt about its ability to continue as a going concern.”
Experts have told USA TODAY they expect the stock's price to remain volatile.
Trump's legal cases come with mounting price tag
Trump Media share prices have fallen significantly since it went public, coming down more than 60% by April 15, the first day of his first of four criminal trials.
Trump also was ordered to pay a combined $537 million across two civil cases earlier this year, both of which he is appealing.
At one point, the Trump Media shares were a potential source of funding to make those payments.
But in April, he posted a reduced bond of $175 million fronted by California billionaire Don Hankey to prevent his assets from being seized in a fraud case.
Contributing: Bailey Schulz, Jessica Guynn, Jeanine Santucci; USA TODAY
veryGood! (16)
Related
- Sam Taylor
- 100% coral mortality found in coral reef restoration site off Florida as ocean temperatures soar
- Jaylen Brown, Celtics agree to 5-year supermax deal worth up to $304 million, biggest in NBA history
- What's making us happy: A guide to your weekend viewing, listening and reading
- Off the Grid: Sally breaks down USA TODAY's daily crossword puzzle, Triathlon
- Phoenix melts in a record streak of days over 110 degrees. And it's not over yet
- TikTok adds new text post feature to app. Here's where to find it.
- Mike Hodges, director of 'Get Carter' and 'Flash Gordon,' dies at 90
- EU countries double down on a halt to Syrian asylum claims but will not yet send people back
- 'Visualizing the Virgin' shows Mary in the Middle Ages
Ranking
- Bodycam footage shows high
- Transgender patients sue the hospital that provided their records to Tennessee’s attorney general
- 50 wonderful things from 2022
- Mega Millions jackpot is the 8th largest in the US at $820 million
- IRS recovers $4.7 billion in back taxes and braces for cuts with Trump and GOP in power
- Banned Books: Maia Kobabe explores gender identity in 'Gender Queer'
- A year with the 988 Suicide and Crisis Lifeline: What worked? What challenges lie ahead?
- Biden honors Emmett Till and his mother with new national monument
Recommendation
Paula Abdul settles lawsuit with former 'So You Think You Can Dance' co
You should absolutely be watching 'South Side'
Josh Gondelman on Bullseye's End of Year Stand-Up Comedy Spectacular
Ohio officer put on paid leave amid probe into police dog attack on surrendering truck driver
The Louvre will be renovated and the 'Mona Lisa' will have her own room
Three great 2022 movies you may have missed
Comic Jerrod Carmichael bares his secrets in 'Rothaniel'
Wendy's unveils new cold brew coffee drink based on its signature Frosty