Shares in Trump Media & Technology Group fell below $17, wiping out an extraordinary stock market rally, reversing gains from its rapid rise in early 2023.
Despite a peak valuation of nearly $10 billion in March, TMTG is not experiencing significant growth, reporting only $4.13 million in sales and a loss of $58.2 million.
Trump's personal fortune is under threat from potential penalties worth hundreds of millions due to ongoing civil trials, alongside his company’s declining stock value.
The company briefly became a 'meme stock' similar to GameStop, leading to unexpected volatility and a quick rise and fall in its market value.
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