The social media company owned by Donald Trump saw its market valuation continue to evaporate on Tuesday as shareholders reacted to the U.S. midterm election results. The equity price of the operator of Truth Social plummeted to a new session floor of $4.64, sliding past the $5.22 low it had touched earlier in the day after Democrats swept control of Congress.
The current share price marks a 97% decline from the $175 per share peak investors paid at the company’s peak. While the Dow Jones Industrial Average climbed more than 1,000 points during the session, the selloff in $DJT and a Trump-associated cryptocurrency meme coin deepened, extending cumulative net losses for the media firm to $1.8B since its inception.
