Former president Donald Trump’s social media startup keeps sliding as the once high-flying stock struggles to garner the frenzied traders who helped fuel a rally last month.
Trump Media & Technology Group Corp., parent of Truth Social, has lost nearly half of its value from a March 27 peak, erasing roughly $4.3 billion in market cap and sinking below the $5 billion level for the first time as a public firm. The descent in all but two of the past nine sessions has seen trading activity fade, with Wednesday headed for its slowest day since the lead up to Trump Media’s blank-check deal vote. The stock’s losses bring Trump’s personal stake to $2.7 billion, wiping out some $2.5 billion in paper wealth in two weeks.
