"Trump Media's Stock Plummets, Losing Billions in Value"

The price of Trump Media shares dropped below $30 in early trading, marking a significant decline from its initial public offering price of $70.90 per share. The company, which owns the Truth Social app, has seen its shares fall by more than 47% month-to-date, resulting in a substantial loss of market capitalization. Former President Donald Trump, the largest shareholder in the company, remains optimistic about its prospects, emphasizing its lack of debt and over $200 million in cash. Short sellers have shown keen interest in betting against the company's stock, with financing costs for short trades sharply fluctuating in recent weeks.