- Trump Media shares closed down more than 5% on Friday after the company's largest shareholder, former President Donald Trump, was found guilty of all 34 felony counts in his New York criminal trial.
- The stock slid as much as 15% Thursday evening after the verdict was read in the first criminal trial of a former U.S. president.
Trump Media shares fell as much as 15% in extended trading on Thursday and closed down Friday after a New York jury found former President Donald Trump guilty on all 34 felony counts of falsifying business records in his criminal hush money trial.
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After initially recovering in pre-market trading, the stock — which trades under the ticker "DJT" — continued dropping on Friday, closing the day down more than 5%.
The former president owns 65% of the company's shares.
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Trump Media, which owns the Truth Social app, merged with shell company Digital World Acquisition Corp. in late March. The stock surged and then plunged.
The company has a market cap of about $9 billion, based almost entirely on Trump's brand and his massive personal following. Trump Media reported a net loss in the first quarter of $327.6 million on less than $1 million in revenue.
Money Report
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