Bad news for Donald Trump and his Truth Social social-media platform: TMTG stock hits record low
President Trump’s media company, TMTG, is enduring a slumping share price as the commander-in-chief’s popularity also drops.
Donald Trump’s media and tech company remains beset by a falling stock-market valuation, as the U.S. president suffers setbacks in both the financial and political arenas.
How much has TMTG’s price fallen?
Trump Media & Technology Group (TMTG), of which Trump is the majority owner, opened at a Nasdaq share price of $10.53 on Thursday, having lost about 64% in value over the last year, per Simply Wall St.
Founded in 2021, TMTG reached an all-time high closing stock price of $97.54 in March 2022, and sat at $40.03 on the final trading day before Trump began his second term as U.S. president in January.
However, the Florida-based company - which, most notably, owns Trump’s social-media platform Truth Social - has seen its share price drop steadily since the president returned to the White House.
According to the U.S. financial publication Barron’s, TMTG’s shares have lost nearly 35% of their value in the past month alone. Since mid-2024, TMTG’s stock plunge has knocked a reported $5 billion from the Trump family’s overall wealth.
Trump popularity also falling
Trump’s TMTG slump is deepening as the president faces dropping popularity among voters. Indeed, a Reuters/Ipsos poll released on Tuesday gave the 79-year-old an approval rating of 38% - the lowest of his second term in office.
“Americans [are] unhappy about his handling of the high cost of living and the investigation into the late convicted sex offender Jeffrey Epstein,” Reuters said.
On Tuesday, Congress passed a bill - almost unanimously - that compels Trump’s Department of Justice (DOJ) to release the so-called ‘Epstein files’ - the DOJ’s records on the disgraced financier, who died by suicide in 2019. Only one congressman, the Louisiana Republican representative Clay Higgins, opposed the bill.
The vote came days after Trump performed a dramatic, embarrassing U-turn on the Epstein files. Having long been staunchly opposed to their release, the president on Sunday called on congressional Republicans to support the effort to make them public.
“Spectacular defeat”
Trump’s volte-face followed significant, sustained pushback from figures within his own Republican Party - a rare moment of GOP defiance against a president who has been said to have a “trance-like grip” on the party.
Writing in CNN, the political analyst Stephen Collinson described Trump’s Epstein climb-down as “a Washington humiliation” and “a spectacular defeat, easily his worst from his own party on Capitol Hill during two turbulent presidencies”.
On Wednesday, Trump signed the Epstein bill into law, leaving the DOJ with 30 days to release all information gathered in its investigations into the sex offender.
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