Trump’s social media stock reacts to latest security scare
CNN
Shares of Donald Trump’s social media company areexperiencing another bout of turbulence following the latest assassination attempt against the former president and face of Truth Social.
Shares of Donald Trump’s social media company are experiencing another bout of turbulence following the latest assassination attempt against the former president and face of Truth Social. Shares of Trump Media & Technology Group (DJT) initially climbed 5% in premarket trading early Monday in the wake of the Sunday security incident.But in late morning trading, the Truth Social owner’s share price was down 4%. The reaction on Wall Street represents a far more muted response compared to the aftermath of the assassination attempt against Trump at a Pennsylvania rally in July. After the former president emerged defiant from that shooting, Trump Media skyrocketed as much as 50% the next trading day before closing up by 31%. Experts have compared Trump Media to a meme stock because it tends to trade on sentiment and hype, not fundamentals. And even though it brings in little revenue, the conservative social media company continues to be valued in the billions of dollars. The former president himself set off the latest turbulence on Friday when he declared he won’t sell shares in the company. “No, I’m not selling. No, I love it,” Trump said at a press conference in response to a question from a reporter.
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