Trump Media & Technology Group shares continue to fade

Trump Media & Technology Group shares continued to spiral Monday, putting nan company's banal connected way adjacent astatine its lowest level since listing connected nan Nasdaq speech successful precocious March.

In late-day trading nan banal was down $4.15, aliases much than 10%, to $36.44. The company, whose largest shareholder is erstwhile President Donald Trump and which trades nether nan ticker awesome "DJT," surged to a precocious of $79.38 aft its marketplace debut connected March 26, valuing it astatine much than $9 billion. 

Since that highest nan banal has fallen 54%, pinch Trump Media's marketplace capitalization dropping to little than $5 billion. 

Trump Media, whose main plus is nan societal media work Truth Social, generated $4.1 cardinal successful gross successful 2023. The institution disclosed mounting losses successful a regulatory filing earlier this month, while noting its accountant had warned of "substantial uncertainty astir its expertise to proceed arsenic a increasing concern." 

Trump Media has mostly captured nan attention of supporters of nan erstwhile president, arsenic good arsenic unit investors who wanted to rate successful connected nan mania, alternatively than large organization and master investors. 

"DJT has each nan makings of a meme stock, fixed nan Trump news factor," noted Ben Emons, elder portfolio head and caput of fixed income astatine NewEdge Wealth, successful a investigation statement successful precocious March. 

In an April 5 connection to CBS MoneyWatch, a Trump Media spokesperson said nan institution foresees "numerous possibilities for expanding and enhancing" Truth Social. The institution has nary indebtedness and complete $200 cardinal cash, she said.