A criminal conviction isn’t typically a market-moving event. But the historic conviction of former President Donald Trump is causing extreme turbulence for Truth Social owner Trump Media & Technology Group. Trump Media – a notoriously volatile stock since debuting in late March – has swung between steep losses and sharp gains since a Manhattan jury found the former president guilty on Thursday.
The former president isn’t just the chairman of Trump Media. He’s the most popular user on Truth Social and the leading shareholder. Trump Media’s ticker symbol is even “DJT.” “This stock has always represented a bet on Trump winning the 2024 election ,” Kennedy said. At current levels, Trump’s dominant stake of 114.75 million shares is valued at about $6 billion on paper.
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Source: CNBC - 🏆 12. / 72 Read more »