Trump Media stock slides under $18, a new low since it began publicly trading

• Trump Media, the parent company of Truth Social owned by Donald Trump, fell to a new public trading low since it debuted on the Nasdaq stock exchange in March.
• The DJT dip followed a broader market decline, with the Nasdaq, Dow Jones Industrial Average and S&P 500 all trading lower Tuesday.
• Donald Trump and other major shareholders will be allowed to sell their shares after a "lockup agreement" period ends later this month, though the Republican presidential nominee has not signaled that he plans to cash in.

The share price of Trump Media, whose majority shareholder is former President Donald Trump, fell Tuesday to the lowest level seen since the Truth Social parent company began public trading in March following a merger.

DJT shares dropped to $17.89 per share around midday Tuesday, The stock's prior low was set on Aug. 28, when it hit $19.38 per share. The stock price is down roughly 77% from its high of $79.38 per share on March 26, following Trump Media's merger with a publicly traded special purpose acquisition company.

Trump Media's single-day slide of more than 8% accompanied a broader market dip on Tuesday, especially for tech companies. Shortly before 2:00 p.m. ET, the Nasdaq was trading 2.7% lower, while the Dow Jones Industrial Average and S&P 500 had both declined over 1%.

But market trends may only partially explain the slide in Trump Media's share price.

That's because the company's stock typically trades more like a meme stock than a traditional investment. It also rises and falls with the political fortunes of the Republican presidential nominee.

The stock spiked, for example, after Trump survived an assassination attempt in July, dovetailing with a surge of voter support for his presidential bid and