Trump Media & Technology Group (TMTG) has fallen to a record low after a Presidential candidate from the Republican Party Donald Trump returned to the media appliances of competitors - X (former Twitter). This is reported by Reuters.
As of the latest TMTG bidding, they decreased to $ 21.33 per unit, which is a decrease in more than 4%. During the eight sessions, the action showed negative dynamics, decreasing by 3.7% to $ 21.42.
Reducing Trump's leadership in polls and ponds in the polls over the last weeks has also affected the company's shares. Many retailers have considered TMTG shares as a bet on whether Trump wins the second term of the presidential election.
Earlier this month, TMTG, whose main asset is Truth Social, has published a report on a quarterly loss of $ 16.4 million at revenue of only $ 837 thousand. The company's market value has fallen to about $ 4.3 billion, which is a significant decline compared to more than $ 8 billion in the beginning of this year.
Trump is expected to be able to get their cash out of 60% of shares - or 114.75 million shares - his social network when the insider information blocking will end next month. This point can additionally affect the dynamics of shares of a company that is already experiencing difficult times in the stock market.
