Trump Media stock mysteriously plunges
CNN
Former President Donald Trump’s social media company just suffered a sudden nosedive in the stock market that briefly halted trading and left traders scratching their heads.
Former President Donald Trump’s social media company suffered a sudden nosedive in the stock market Tuesday that briefly halted trading and left traders scratching their heads. Truth Social owner Trump Media & Technology Group was trading sharply higher during a volatile session at about $31 per share when it swiftly collapsed below $29 shortly after 2:40 p.m. ET on heavy trading volume. Nasdaq paused trading for Trump Media at 2:42 p.m. ET for five minutes, a routine cooling-off period that exchanges are required to impose during times of heavy volatility. When trading resumed, Trump Media initially bounced back before plunging below $27. The owner of social media platform Truth Social ended the day down 10%, and 20% below its high of the day. There did not appear to be any new developments or announcements that would explain the sudden plunge. But Trump Media is a notoriously volatile stock.
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