Trump Media Stock Hits New Record Low

Shares of Trump Media & Technology Group, the parent company of Truth Social, have hit a new low, closing at $22.24 on Monday, reflecting a significant decline from previous highs. This drop occurs amid ongoing financial struggles, with the company reporting substantial losses and low revenue in recent quarters. The stock's volatility is closely tied to Donald Trump's political fortunes and recent legal troubles, including his recent trial and conviction on falsification charges. Trump’s return to Twitter (rebranded as X) and his participation on TikTok reflect efforts to boost his campaign and reach a broader audience, as Truth Social struggles to maintain relevance. The stock decline also coincides with the Democratic National Convention and Kamala Harris's formal nomination as the Democratic presidential candidate. Trump Media's future remains uncertain, especially with the potential end of a six-month lockup period in September, allowing Trump to sell a substantial portion of his shares.