Trump Media shares close down by more than 5%, latest grim day for Truth Social owner

• The share price of Trump Media closed trading down 5.4%.
• DJT shares, the majority of which are owned by former President Donald Trump, closed at $32.41.
• The social media company's stock began public trading on the Nasdaq on March 26 with an opening price of $70.90, and a high of nearly $80 that day.
• Trump Media owns the Truth Social app.

The share price of Trump Media fell 5.4% at the close of trading on Thursday.

DJT shares, the majority of which are owned by former President Donald Trump, ended at $32.41.

Thursday's drop came a day after Trump Media shares fell 8.57%.

The social media company's stock began public trading on the Nasdaq on March 26 with an opening price of $70.90, and soared to a high of nearly $80 that day.

But the share price has slumped since then.

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The company's market capitalization as of Thursday is $4.43 billion, markedly lower than the level seen when shares began trading last month, but still relatively very high given the firm's financial results last year. Trump Media reported revenue of just $4.1 million in 2023, and a net loss of $58 million.

Trump Media owns the Truth Social app, which Trump frequently uses to communicate with followers.

Trump owns nearly 60% of the company's shares. As of Thursday's close,