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Shares of Trump Media dropped more than 10% in intraday trading Monday, accelerating the company’s downward slide since President Donald Trump took office.
The company behind Trump’s preferred social media app Truth Social was trading below $20 per share around 3:00 p.m. ET — down about 50% from its closing price on Jan. 20, the day Trump was sworn in.
Trump Media (DJT) Stock Price
Monday’s sell-off put Trump Media on pace for its worst day since Jan. 21, when DJT stock retreated from the buying frenzy that preceded the Republican president’s inauguration.
Since then, the company has suffered a seven-week losing streak.
But Trump Media isn’t the only one feeling the pain: Stocks plummeted across the board Monday, as the market volatility that dragged down all three major indexes last week intensified.
The losses hurt other media companies with much larger market capitalizations than Trump Media, such as Reddit, which was on pace for its worst day ever.
Trump Media last month reported losing $400 million in 2024, while taking in $3.6 million in revenue.
The company debuted on the Nasdaq in March 2024 after going public through a long-sought merger with a special purpose acquisition company. The merger sent DJT stock soaring, as the company attracted thousands of investors seeking to support then-candidate Trump, the majority owner.
More than a month after winning the Nov. 4 presidential election against former Vice President Kamala Harris, Trump transferred his entire stake — 114,750,000 shares — to a revocable trust.
A Trump Media spokeswoman did not immediately respond to CNBC’s request for comment on Monday’s stock movements.
— CNBC’s Adrian van Hauwermeiren contributed to this report.
