Trump Media & Technology Group, the company primarily owned by former US President Donald Trump, saw its share fall to new record lows on Tuesday, August 20.
This comes after Trump’s recent return to the rival social media platform X (formerly Twitter).
As per Reuters, the stock dropped to $21.33, down more than 4%, and was last seen at $21.84, reflecting a loss of 1.8% and marking its eighth consecutive day of decline.
The decline has been affected by Trump’s diminishing lead in polls and betting markets, with some investors viewing the stock as a bet on his chances of winning a second term.
The shares had previously reached a peak of $79.38 during their Nasdaq debut on March 26, following a merger with Digital World Acquisition Corp.
Earlier this month, Trump Media, which owns the Truth Social app, reported a quarterly loss of $16.4 million and revenue of just $837,000.
To note, Trump resumed posting on X last week after nearly a year, which coincided with an interview with X owner Elon Musk.
