Trump Media sees strong recovery, with stock surging 36% following significant sell-off
Money | June 25, 2024, 5:14 p.m.
Shares of Trump Media experienced a fluctuation in trading on Tuesday, ultimately closing higher after a three-day streak of gains following former President Donald Trump's criminal conviction. The stock price for Truth Social's parent company surged by up to 11% at the market's opening and closed at $36.37 per share, marking an 8.5% increase. Trading on the Nasdaq as DJT, the stock saw a 21% jump the previous day, significantly increasing both the company's market capitalization and Trump's net worth. With a 36% rise since Thursday's closing price, Trump Media's value continues to climb. Trump, who owns a majority stake in the company, faces a lock-up period preventing him from selling any shares until late September. The stock's recent rebound follows a sharp decline after Trump's conviction, highlighting the volatility surrounding the company's shares.