Trump Media & Technology Group is the parent company of former President Donald Trump’s Truth Social platform. On Tuesday, shares of the company fell because there wasn’t much news before the midweek Juneteenth holiday.
Trade in the stock was around $30.15 just after 2:30 p.m. ET, down more than 13%. The S&P 500 went up 0.2 percent.
Dow Jones Market Data said that Trump Media stock was on track for its worst close since April 17, when it closed at $26.40, and its biggest drop in value since April 16, when it dropped 14.2%.
At first, it wasn’t clear what was causing the stock to fall, but it has now lost four days in a row and eight of the last nine days, which is the longest losing streak since June 11.
Trump Media could not be reached right away for comment.
This month, shares are down almost 38%, but they’re up 74% so far this year. There was a special-purpose acquisition company called Digital World Acquisition Corp. that merged with Trump Media on March 25. Its share price was included in the results before March 26.
