Here's How Much Trump Lost After His Newly Listed DJT Stock Erased All Gains Since Public Debut

Former President Donald Trump's wealth saw a notable decline after shares of Trump Media & Technology Group Corp. DJT took a dramatic nosedive after surging in March.

What Happened: Former President Trump's net worth has tumbled by over $2 billion after shares of his company, Trump Media, fell off a cliff.

A day after Trump Media went public under the ticker "DJT," the company's stock hit a peak of $66.22. However, since then, it has taken a nosedive, falling by nearly 44%.

Trump, who is the majority shareholder of the company, has seen his net worth take a plunge, too. The former president holds a 57% stake in Trump Media.

See Also: Peter Schiff Warns Stocks Are In A ‘Stealth Bear Market' As Gold Hits Record High

When Trump Media's stock closed at $66.22 on March 27, the former president's stake was worth nearly $5.2 billion. However, based on current share prices, his stake is worth only $2.9 billion.

This translates to a decline of nearly $2.3 billion in nearly two weeks since the Trump Media stock hit $66.22.

Trump Media & Technology Group’s stock price between Mar. 26 to Apr. 8, 2024

Trump is restricted from selling his stake in the media company until the six-month lockup period expires in September this year. However, a market expert told Benzinga that they "wouldn't be surprised if it gets waived."

Why It Matters: The sharp downturn in Trump Media stock follows a demand from Democratic groups to investigate the merger between Trump Media and Digital World Acquisition.

Trump Media CEO Devin Nunes brushed aside concerns about the company's financial standing, stating that it is debt-free and has $200 million in the bank. The company's auditor, on the other hand, has given a "going concern" notice.

Ihor Dusaniwsky, managing partner at data analytics company S3 Partners, underscored that the trading activity is reflective of traders participating in short-selling.

Price Action: On Tuesday, Trump Media's stock was up 0.04% in premarket trading after closing at $37.17 on Monday, according to Benzinga Pro.

Read Next: Biden To Trump: ‘I Have News For Donald’ Voters Will Punish Him In 2024 For Overturning Roe V. Wade

Photo courtesy: Shutterstock

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