Trump Media stock wavers as DJT struggles to claw back losses after major sell-off

• Shares of Trump Media, which trades as DJT on the Nasdaq, reversed their early gains.
• The recent moves follow a weekslong sell-off that began after a Manhattan jury found Donald Trump guilty of 34 felony counts of falsifying business records.
• An upswing this week boosted the on-paper net worth of Trump, who owns nearly a 65% stake in Trump Media.

Shares of Trump Media erased their early gains Tuesday morning, putting the brakes on a stock surge that reversed some of the losses from a lengthy sell-off following former President Donald Trump's criminal conviction in New York.

The stock price of the company behind Truth Social shot up as much as 11% as markets opened, but flattened out by 11:15 a.m. ET, with shares trading around $34.50.

The stock, which trades on the Nasdaq as DJT, soared 21% on Monday, adding hundreds of millions of dollars to the company's market capitalization — and the on-paper net worth of Trump, who owns nearly a 65% stake in Trump Media.

The presumptive Republican presidential nominee cannot sell any of his shares until late September, when a postmerger lock-up period expires.

The company's stock price closed more than 3% higher on Friday, halting a weekslong sell-off that began after a Manhattan jury found Trump guilty of 34 felony counts of falsifying business records.

The stock declined 46% between that May 30 verdict and the end of last week.

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