This photo illustration shows Republican presidential candidate former President Donald Trump’s social media platform Truth Social on a cell phone on March 25, 2024 in Chicago, Illinois.
Scott Olson | Getty Images
Trading in Trump Media stock was suspended Tuesday due to volatility after the Truth Social owner’s stock price suddenly plummeted.
DJT stock continued to fall after a five-minute trading halt was lifted at 12:47 p.m. ET. Stocks fell more than 11% in the final hour before market close.
Trump Media, which was up more than 13% early Tuesday afternoon, suddenly fell more than 6% the day the outage occurred.
The stock price occurred during highly volatile trading, with more than 84 million shares traded by 3:18 p.m., which is several times the company’s 30-day average trading volume.
Trump Media is on pace to record its highest trading volume since it began public trading on the Nasdaq in late March following its merger with a blank check company.
The busiest trading day to date was July 15, the first trading day after Donald Trump, the company’s majority shareholder and Republican presidential candidate, narrowly lost his life in an assassination attempt at a campaign rally in Pennsylvania. It was day.
Many individual investors in Trump Media are fans of the former president, and analysts say they buy and sell stocks as a way to support him or bet on his chances of defeating Democratic candidate Kamala Harris. This suggests that there are many cases.
Tuesday’s decline coincided with developments in the presidential election that his supporters had touted as good news, reversing weeks of stock gains.
Some online betting markets recently turned in Mr. Trump’s favor after weeks of close races or a slight lead for Ms. Harris. Online gambling platforms are not reliable indicators and are not based on methodologically sound data.
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Trump Media (DJT) stock price
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