Trump Media's share price surged by as much as 21% on Thursday, marking the second consecutive day of strong gains for the owner of the Truth Social app. The stock rose above $31 in early trading, posing a challenge for short sellers who had bet on its decline. The company also updated its website to provide shareholders with tips on preventing their stock from being loaned to short sellers.
Trump Media shares surged by over 10% in early trading following two days of declines on the Nasdaq, with the company's majority shareholder being former President Donald Trump. Despite the increase, the share price remains below its opening price, trading at less than $25 per share. Trump Media, which owns the Truth Social app, has a market capitalization of over $3.4 billion but had revenue of just $4.1 million last year.
Trump Media's shares plunged over 17% in premarket trading after filing to issue additional stock, with the company's majority stakeholder, Donald Trump, heading to court for jury selection in his criminal trial. The company, which created the Truth Social app and trades under the ticker DJT on the Nasdaq, experienced a nearly 20% drop the previous week.
Trump Media shares closed the week down nearly 20%, losing billions in market cap since its public trading debut on March 26. Former President Donald Trump, the company's largest shareholder, faces a criminal trial next week. The company's market cap dropped by $5 billion in just over two weeks, with short sellers showing keen interest due to the company's performance and stock price. Traders who want to short Trump Media shares have seen a sharp fall in financing costs, from 900% to 200% annually.
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.
Trump Media shares dropped more than 10% in early trading, following a 12% decline on Friday, with its share price falling to $36.36 per share from a high of nearly $80 two weeks ago after it began trading as a publicly held company. The company owns the Truth Social app, used by its biggest shareholder, former President Donald Trump.
