Trump Media in volatile trading
image for illustrative purpose
Washington: There have been lawsuits, short-selling and rampant speculation. Now, as Trump Media & Technology Group approaches its first month as a publicly traded company, it’s clear that like the man it’s named after there’s nothing typical about the stock. Trump Media stock rose 7.91 per cent to $38.49 on Friday. From a low of $30.96 on April 24, the stock soared over 25 per cent to reach a high of $38.83 on April 25. However, it fell 33.62 per cent in the last one month from high of $57.99 on March 25. The stock’s 52-week high was $79.38 and 52-week low of $22.55.
“If I woke up tomorrow and shares were zero dollars, or $100, I would not be surprised,” said Matthew Tuttle, a professional investor who bought $800 in Trump Media stock last week when it was at an all-time low. A day later, it had spiked in value. “This is not going to move on fundamentals, earnings, or anything I was taught in business school about how a stock is supposed to move,” he said.
With Trump facing dozens of federal felony charges and hundreds of millions in legal expenses, Trump Media went public on March 26 on the Nasdaq exchange.
