Donald Trump's media company has lost over 60 percent of its value since going public. The announcement of a streaming service caused prices to fall instead of rising.
Trump Media & Technology Group (TMTG) is the company behind the social network "Truth Social," which Trump founded after his expulsion from Twitter (now X). In March, TMTG went public and got off to a brilliant start: at one point, the price was quoted at $79 on the first day of trading, more than 58 percent above the opening price of $49.95. The market value was at a record high in March of 8.97 billion US dollars (around 8.43 billion euros). The former US president himself owns 57 percent of the media startup, according to company information. It had become public that insiders, including Donald Trump, may be able to sell their shares early, as Business Insider reported. There is actually a six-month period during which the value of the shares can be calculated.