On Friday, Trump Media & Technology Group (ticker: DJT) reached an all-time low as restrictions that prevented insiders, including former President Donald Trump, from selling their shares lifted. The stock faced a significant decline of 8%, settling at $13.52, marking a staggering 24.6% drop for the week. Since beginning its trading journey on March 26, DJT has struggled, hitting a record low even compared to its pre-SPAC trading days.
This stock has become somewhat of a barometer for political sentiment surrounding Donald Trump’s campaign. Following Trump’s declaration on September 13, via his Truth Social account, that he would retain his shares despite the expiration of the selling restrictions, DJT saw a brief 12% boost in its stock price. However, that momentum was short-lived.
The financials of Trump Media tell a sobering tale. The company reported around $800,000 in revenue for the past three quarters, juxtaposed with continuous operating losses. This financial deterioration has raised eyebrows among investors, leaving them questioning the viability of investing in a company that lacks substantial revenue streams.
Interestingly, DJT stock peaked at $46.27 on July 12, coinciding with a critical moment in Trump’s political narrative involving an assassination attempt. During this time, his lead against President Biden was considerable, a fact that positively influenced market sentiment.
Currently, the market sends a strong message regarding the trajectory of DJT stock as it grapples with investors’ skepticism and political uncertainty. This situation invites closer examination of stock patterns associated with political figures, leaving possible implications for investors exploring Trump’s financial influence through his media company.
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