Shares of former President Donald J. Trump’s social media company have fallen so much that his onetime $6 billion stake is now worth about $2 billion.
The stock price of Trump Media & Technology Group, closed Wednesday at $16.98, and is down more than 74 percent from the high-water mark it hit after Trump Media’s merger in March with a publicly traded shell company.
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The slide in the share price has accelerated over the past few weeks as the presidential campaign has heated up and Vice President Kamala Harris, the Democratic nominee, has narrowly overtaken Mr. Trump in most national polls. Shares of Trump Media often have risen and fallen in tandem with investor perception of how Mr. Trump is doing in the presidential race.
People don’t buy Trump stock because of the company’s portfolio and performance, they buy because:
That business could have been a lemonade stand run by 8 year olds, and the stock performance would’ve looked exactly the same.
Hey. That’s not fair.
8 year olds would actually run a profitable lemonade stand.