Shares in Trump Media slump after former president convicted in hush money trial
BNN Bloomberg
Shares of Trump Media & Technology Group, the owner of social networking site Truth Social, slumped Thursday after former President Donald Trump was convicted 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.
Trump Media's stock was down about 9 per cent in after-hours trading Thursday as news of the verdict emerged.
The stock, which trades under the ticket 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.
