Former President Donald Trump's company, Trump Media, has lost nearly 50% in stock market value since June, resulting in a more than $2 billion decline in shares owned by Trump.
Trump owns 114,750,000 shares in Trump Media, which controls Truth Social, previously valued at $5.6 billion. The company's downfall followed Trump's conviction on 34 felony counts in business records falsification.
Trump Media's shares fell nearly 13% in a single trading session, with the stock price plummeting to about $27.50 on Nasdaq, down from over $49 at the beginning of June.
The company's stock saw a rapid decline of almost 10% in the previous trading day, further worsening by more than 17% in post-market trading after SEC declared its registration statement effective, authorizing early investors to exercise warrants.
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