Trump's media stock falls again — this time below $18
Donald Trump's media company stock has fallen again, this time down to $18.
At the end of last week, DJT dropped below $20 after topping out at over $79 at one point. A year later, CNBC showed that the Truth Social parent company is suffering far worse than his presidential campaign numbers, which are down (43 percent) against Kamala Harris' 48 percent, a USA TODAY/Suffolk Poll said.
Trump is currently under a "lockup agreement" that prevents him and his investors from selling their stock until later this month. Under the agreement, insiders can't sell their stock until a certain amount of time after the initial public offering, or IPO, goes public.
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Trump hasn't indicated that he intends to sell off the stock when it becomes possible.
"Trump Media’s single-day slide of more than 8 percent accompanied a broader market dip on Tuesday, especially for tech companies," said CNBC. "Shortly before 2:00 p.m. ET, the Nasdaq was trading 2.7 percent lower, while the Dow Jones Industrial Average and S&P 500 had both declined over 1 percent."
Trends only explain part of the loss, the report said. "That's because the company's stock typically trades more like a meme stock." Such stocks gain popularity as a result of social media.