Shares of Trump Media (NASDAQ:DJT) fell to their lowest price Monday since Donald Trump’s social media company completed a merger nearly five months ago.
Trump Media, which owns the Republican former president’s preferred social messaging platform Truth Social, ended the trading day at $22.24 per share, a drop of more than 3.5%.
The once-privately held firm merged with publicly traded Digital World Acquisition Corp. in late March, and began trading on the Nasdaq with the ticker DJT, soaring to a high of $79.38 per share. The stock price has continued to be volatile, but since mid-July has lost nearly half of its value.
Monday’s closing price is the lowest for the company since Jan. 12, when it was still trading under the DWAC ticker.
Trump Media’s stock slump in the past four weeks coincided with a swirl of seismic developments for Trump, who is both the majority stakeholder of Trump Media and a main draw for Truth Social users.
The share price surged on July 15, the first trading day after Trump was nearly assassinated at a campaign rally in western Pennsylvania.
Trump was formally nominated as the Republican presidential nominee two days later, bolstering the momentum he had already built up against
President Joe Biden, who at the time was the presumptive Democratic nominee.
DJT shares began Tuesday down 28 cents, or 1.3%, to $21.96.
