Shares of Truth Social owner Trump Media & Technology Group (DJT) tumbled 9% in after-hours trading Thursday following former President Donald Trump's conviction on all 34 felony charges. The share price of Trump Media remained relatively stable until news of the jury's verdict emerged, causing a sharp decline upon the announcement of the conviction.
As the chairman and primary shareholder of Trump Media, Trump's significant stake of 114.75 million shares is currently valued at $5.4 billion, despite the recent drop in share price during after-hours trading.
Trump Media went public in March through a controversial merger, attracting attention due to its association with the former president. However, experts have raised concerns about the company's valuation, noting that Truth Social, its flagship platform, holds a minor position in the social media landscape and generates limited revenue.
