Trump Media stock loses huge unrealized gains and plunges 69% from its July high.
September 6, 2024 2:23 JST (excerpt)
Trump loses unrealized gains of $3.7 billion, making it 'extremely difficult' to liquidate the remaining cash.
Bullish supporters disappointed by the return of 'X', with the stock price moving similarly to the predicted probability of election victory.
The Trump Media and Technology Group, which had been soaring in stock price with the momentum to knock down flying birds, is now experiencing a sharp decline as the lock-up release based on the merger agreement with the Special Purpose Acquisition Company (SPAC) is imminent.
The Trump Media, which operates former President Trump's social media 'Truth Social', had a market capitalization of nearly $10 billion (about 1.44 trillion yen) in mid-May. Now it has fallen below $3.4 billion and shrank by 69% from its peak. The selling has accelerated in the past month, with declines on 22 out of 27 trading days and a drop of over 45% in one month. The lock-up is expected to be released on the 19th of this month. As insiders will be able to release their held shares, the pressure on the stock price is expected to increase.
Trump loses unrealized gains of $3.7 billion, making it 'extremely difficult' to liquidate the remaining cash.
Bullish supporters disappointed by the return of 'X', with the stock price moving similarly to the predicted probability of election victory.
The Trump Media and Technology Group, which had been soaring in stock price with the momentum to knock down flying birds, is now experiencing a sharp decline as the lock-up release based on the merger agreement with the Special Purpose Acquisition Company (SPAC) is imminent.
The Trump Media, which operates former President Trump's social media 'Truth Social', had a market capitalization of nearly $10 billion (about 1.44 trillion yen) in mid-May. Now it has fallen below $3.4 billion and shrank by 69% from its peak. The selling has accelerated in the past month, with declines on 22 out of 27 trading days and a drop of over 45% in one month. The lock-up is expected to be released on the 19th of this month. As insiders will be able to release their held shares, the pressure on the stock price is expected to increase.
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