Trump Media shares discontinuance down more than 8%, placing market cap beneath $5 billion

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The part label of Trump Media closed buying and selling Wednesday down 8.57%, placing the company’s market capitalization below $4.7 billion.

DJT shares closed at $34.26.

That is smartly below the $70.90 that the inventory opened at on March 26, its first day as a publicly traded company.

And it’s virtually $2.70 per part lower than the closing label of the damaged-down shell company, Digital World Acquisition Corp. on March 22, the day that DWAC shareholders permitted the merger with Trump Media that took that company public days later.

Omar Marques | Lightrocket | Getty Pictures

Trump Media’s part label is down 44.71% month to this level.

The corporate’s finest shareholder is damaged-down President Donald Trump, who holds a virtually 60% stake. Trump’s shares were price now not up to $2.7 billion at Wednesday’s discontinuance, a steep drop from the more than $5 billion in paper label they’d two weeks within the past.

Trump Media, which owns the Truth Social app, reported revenue of appropriate $4.1 million for 2023, and a salvage lack of $58 million for the year.