Trump Media Faces Financial Turmoil Amidst Legal Woes
Stock Value Plummets After Guilty Verdict
Shares of Trump Media Technology Group Corp (DJT) have experienced a significant decline in recent trading sessions following news of former President Donald Trump's conviction in a New York jury trial. The stock, which made its debut last month, has dropped as much as 65% in late trading on Thursday.
Losses Since Debut
Since its initial public offering, Trump Media has faced a series of challenges, including regulatory scrutiny and technical glitches. The company's stock has been on a downward trend since then, with Monday's 18% drop extending the losses.
Verdicts Take Toll
Investors appear to be responding to the conviction of former President Trump on all 34 felony charges. The verdict has raised concerns about the potential impact on Trump's business ventures, including Trump Media. As a result, investors are reportedly taking stock of the situation and adjusting their positions accordingly.
Additional Shares Secured
Despite the recent setbacks, it has been reported that former President Trump has secured an additional $16 billion worth of shares in Trump Media. This infusion of capital may provide some stability to the company as it navigates the current legal and financial challenges.
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