Trump Media stock is in a free fall
As rumors multiply in Washington about President Donald Trump’s waning influence over the Republican Party, investors are quickly turning away from his company’s shares. Over the past week, shares of Trump Media & Technology Group have fallen 18%, and 36% over the past month.
Shares are slightly above their all-time low, currently trading at $10.29, impacting Trump’s personal fortune. The fall in stocks wiped out more than $5 billion in wealth for Trump and his family. Trump owns about 115 million shares of the company.
The decline has been fairly consistent since the stock’s surge in January, before the start of his administration’s second term. Since the start of the year, Trump Media shares have lost 70% of their value. (The stock was poised to fall once again in pre-market trading Thursday.)
Investors are particularly concerned about the company’s crypto holdings. The broader cryptocurrency market has been slumping for most of the last month and a half. Bitcoin prices are now lower than they were when Trump took office and just 2% lower for the year. After reaching $124,000, the price now stands at less than $92,000.
Trump Media invested heavily in Bitcoin, accumulating $2 billion in July, which represented about two-thirds of its liquid assets at the time.
Crypto issues likely have a bigger impact on Trump’s wealth, as he owns or has invested in other crypto businesses, including decentralized finance entity World Liberty Financial and meme coin $TRUMP, which has fallen from a price of $45 to less than $7 since the start of the year.
Trump has been incredibly pro-crypto since taking office, easing regulations for token traders. He has shrugged off concerns about a conflict of interest, pointing out that his assets are in a trust managed by his son Donald Trump, Jr.
