The Truth social network logo is seen in this photo illustration on 04 December, 2023 in Warsaw, Poland.Â
Jaap Arriens | Nurphoto | Getty Images
Shares of Trump Media soared 15% at the market’s open on Monday, as the firm majority-owned by former President Donald Trump sought to bounce back from a weekslong plunge that cut the stock price nearly in half.
Trump Media, which trades as DJT on the Nasdaq, was trading around $31 a share at the start of the trading day, after closing Friday at just over $27.
The gains are welcome news for the company behind Truth Social, which has seen its stock price fall by nearly 50% in the roughly three weeks since a New York jury found Trump guilty of 34 felony counts of falsifying business records.
Shares of Trump Media sunk even lower last week, after its registration of additional shares was declared effective by the Securities and Exchange Commission. The clearance threatened to dilute the stock price by adding more tradable shares to the company’s float.
This is developing news. Please check back for updates.
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