Trump Media shares tumble after recent cash crunch disclosed

Decline cuts value of Donald Trump’s stake in Truth Social parent firm by more than $1 billion


Shares of Truth Social’s parent tumbled Monday after Donald Trump’s social-media company disclosed it nearly ran out of cash last year and would have struggled to survive without the recent deal that took it public.

The stock slid 21%, giving it a market value of about $6.7 billion and erasing more than $1 billion from the presidential candidate’s approximately 57% stake in the company.

The selloff may be significant because the stock was driven higher by Trump supporters who banded together on social media to drive up the shares. If they are selling, it could make it harder for the presidential candidate to tap his new windfall. The shares are still up about 175% this year, including their performance before the deal. 

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