DJT Stock Is Falling Again. Why Trump's White House Return Is a Problem
The stock market is off to a great start under the new administration but President Trump's own social media company isn't riding the rally.Shares of Trump Media & Technology Group, majority owned by Trump, sank 11% Tuesday and were 3% lower at $34.47 early Wednesday. Ahead of last year's election the stock was seen as a proxy for the chances of a Trump victory -- it has struggled for direction since the outcome became clear in November.Now that he's back in the White House, it looks as if investors are unsure what the future holds for the stock.The Truth Social parent's shares, trading under the ticker DJT, plunged 11% Tuesday -- the first trading day after Trump's inauguration. Heading into Wednesday's trading, the stock has fallen 31% from a recent peak of $51.51 the week before the election.The shares appeared to rely on the buzz and momentum created by Trump's campaign and subsequent victory, rather than trading based on fundamentals. Now that the dust has settled investors have o