Trump Media shares swing wildly and then tumble a day after former president was convicted

Shares of Trump Media & Technology Group swung wildly at the opening bell Friday, falling rapidly after it appeared that the owner of social networking site Truth Social, would bounce back despite the conviction of the former President Donald Trump in his hush money trial.

A New York jury found Trump guilty of falsifying business records in a scheme to illegally influence the 2016 election through hush money payments to a porn actor who said the two had sex.

After rising more than 2% at the opening of trade Friday shares slid 7%, about the levels they were trading immediately after the conviction was announced on off-hours trading Thursday evening.

Donald Trump’s convictionon 34 felony counts marks the end of his historic hush money trial. But the fight is far from over. Here’s what to know.

• How did Trump respond? Trump falsely blasted a ‘rigged trial’ and attacked star witness in a speech on Friday. Follow the AP’s live coverage.
• When is the sentencing? July 11, just days before Republicans are set to pick Trump as the 2024 nominee.
• Can Trump vote? He may be convicted and reside in Florida, butcan still vote as long as he stays out of prison in New York state.
• Will this impact the election? It’s unclear whether Trump’s once-imaginable status as a person convicted of a felony will have any impact at all on voters.

The stock, which trades under the ticker symbol “DJT,” has been extraordinarily volatile since its debut in late March, joining the group of meme stocks that are prone to ricochet from highs to lows as small-pocketed investors attempt to catch an upward momentum swing at the right time.

The stock has tripled this year, in the process frequently making double-digit percentage moves either higher or lower on a