Trump Media stock closes down more than 8% to open the trading week

The
share
price
of


Trump
Media
stock
closed
at
$37.17
Monday,
an
8.43%
drop,
leaving
its
market
capitalization
hovering
just
above
$5
billion.

DJT‘s
bleak
start
to
the
trading
week
on
the
Nasdaq
stock
exchange
came
on
the
heels
of
a
12%
decline
in
its

share
price
on
Friday.

Trump
Media,
which
owns
the

Truth
Social
app
used
by
its
biggest

shareholder,
former
President

Donald
Trump,
had
a
high
price
of
nearly
$80
two
weeks
ago
after
it
began
trading
as
a
publicly
held
company.

But
it
has
slumped
since
then.
At
times
on
Monday,
the
stock’s
price
was
down
10%
or
more.

Trump
Media’s
market
cap,
which
had
hit
around
$8.4
billion
after
it
began
trading
in
late
March,
ended
Monday
at
$5.08
billion.

Trump
personally
owns
78.75
million
shares
of
its
stock,
which
was
worth
about
$2.93
billion
at
Monday’s
close,
on
paper
at
least.

The
presumptive
Republican
presidential
nominee
is
currently
barred
for
six
months
from
selling
his
shares
under
the
terms
of
a
merger
agreement
that
took
the
company
public,
but
its
board
has
the
power
to
lift
that
lock-up
provision.

Trump
stands
to
receive
another
36
million
shares
of
DJT
if
the
stock
hits
certain
share
price
benchmarks
over
the
next
three
years.