Trump's media company craters to record low as losses keep stacking up
A Trump media company reached a new low with its stock prices as it continues to take hits, per a new report.
Futurism, which publishes science and technology news, reported that the Trump Media & Technology Group sank to the lowest stock price in its history this week.
The company, which first went public in 2024, runs Trump's social media platform, Truth Social, and it trades on the Nasdaq with the president's own initials, DJT. That didn't stop it from falling below $8 this week, however, according to Futurism, which noted the stock even touched an intraday low of $7.61.
The previous all-time bottom for the Trump Media company was $7.76, and in May, it recorded a first-quarter net loss of more than $400 million, along with less than $1 million in total sales. The company also lost its CEO earlier this year, when former GOP Rep. Devin Nunes suddenly left.
The decline marks a long slide from when the company's stock was selling for more than $30 and even $40 during Trump's 2024 presidential run, Futurism noted.
The stock is down more than 41 percent year-to-date and roughly 56 percent over the past year, according to market data mentioned by Futurism.
The company has blamed much of the financial damage it has weathered this year on its heavy investments in cryptocurrency and the prediction market, Futurism reported.
Trump Media also attempted a "bizarre and unexpected" merger with a fusion power company and ditched plans for a spin-off of Truth Social into a separate publicly listed company, according to Futurism, which reported some of the moves "have done little to instill confidence."
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