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Shares of Trump Media dropped more than 22% Wednesday, pouring cold water on a remarkable rally that added billions of dollars to former President Donald Trump's on-paper net worth in the run-up to the 2024 election.
DJT stock, which closed at $51.51 per share on Tuesday, was trading under $40 around noon ET Wednesday.
Trump, the Republican presidential nominee, owns nearly 57% of the company, according to recent regulatory filings.
His stake as of midday Wednesday was worth around $4.5 billion — nearly $1.4 billion lower than where it stood Tuesday afternoon.
Trump has vowed not to sell his shares.
Trump Media (DJT) Stock Price
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