Shares of Trump’s media company have fallen to a record low since the IPO

Shares of Donald Trump’s social media company, Trump Media & Technology, have fallen to their lowest level since its March debut on the Nasdaq.

The company, which operates the Truth Social platform, saw its shares fall as much as 3.5% during today’s trading session. This latest decline adds to a month of significant volatility, with the stock losing 36% of its value over the past four weeks.

Launched in 2022, Truth Social was created as an alternative to Twitter – now rebranded as The platform was founded after Trump’s departure from office and has become a hub for his supporters.

The recent decline in Trump Media’s stock price has been attributed to disappointing quarterly results and the former president’s decision to return to X, his former rival platform. In addition, the stock was negatively affected by the announcement of Kamala Harris as the Democratic presidential candidate, which some retailers said would reduce the chances of a Trump political comeback.

Commentators have said the company’s value is divorced from financial reality, likening Trump Media to a “meme stock” whose price is boosted by supporters of Mr. Trump.