{"id":114758,"date":"2024-10-16T10:42:12","date_gmt":"2024-10-16T03:42:12","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=114758"},"modified":"2024-10-16T10:42:12","modified_gmt":"2024-10-16T03:42:12","slug":"trump-media-stock-mysteriously-plunges","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=114758","title":{"rendered":"Trump Media stock mysteriously plunges"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div data-editable=\"content\" itemprop=\"articleBody\" data-reorderable=\"content\">\n<p>\n    <cite class=\"source__cite\"><br \/>\n      <span class=\"source__location\" data-editable=\"location\">New York<\/span><br \/>\n      <span class=\"source__text\" data-editable=\"source\">CNN<\/span><br \/>\n        \u00a0\u2014\u00a0<br \/>\n    <\/cite>\n<\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm2avozcm000m9lnt8pns8j2g@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            Former President Donald Trump\u2019s social media company suffered a sudden nosedive in the stock market Tuesday that briefly halted trading and left traders scratching their heads.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm2avrj55000a356mllhzxk8g@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            Truth Social owner <a href=\"https:\/\/www.cnn.com\/markets\/stocks\/DJT\">Trump Media &amp; Technology Group<\/a> was trading sharply higher during a volatile session at about $31 per share when it swiftly collapsed below $29 shortly after 2:40 p.m. ET on heavy trading volume.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm2avrj55000b356m9idbz3uu@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            Nasdaq paused trading for Trump Media at 2:42 p.m. ET for five minutes, a routine cooling-off period that\u00a0<a href=\"https:\/\/www.cnn.com\/2024\/09\/14\/media\/truth-social-trump-nasdaq\/index.html\">exchanges are required to impose<\/a>\u00a0during times of heavy volatility.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm2avrj56000c356mn3g7jlfl@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            When trading resumed, Trump Media initially bounced back before plunging below $27.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm2avrj56000d356mk62eiuza@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            The owner of social media platform Truth Social ended the day down 10%, and 20% below its high of the day.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm2avrj56000e356mvws2scvk@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            There did not appear to be any new developments or announcements that would explain the sudden plunge. But Trump Media is a notoriously volatile stock.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm2avrj56000f356m43enrysf@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            Matthew Tuttle, CEO of Tuttle Capital Management, told CNN he suspects the selloff was caused by technical factors. He said that when Trump Media\u2019s share price failed to break through its 200-day moving average, a closely-watched technical level, traders \u201cflipped\u201d to bet against it.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm2avrj56000g356m5skc297y@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            Up until Tuesday afternoon,\u00a0<a href=\"https:\/\/www.cnn.com\/2024\/10\/14\/investing\/trump-stock-truth-social-election\/index.html\">Trump Media had been on fire<\/a>.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm2avrj56000h356mvt36hnov@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            The stock had more than doubled its value in the span of three weeks, a stunning move driven by polling and betting odds that suggest the race for the White House could go either way.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm2avrj56000i356mfg9e5goz@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            \u201cSometimes the bottom falls out of these types of moves pretty quickly,\u201d Tuttle said in an email.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm2avrj56000j356mcwudemje@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            University of Florida professor Jay Ritter noted that trading volume in shares of Trump Media was \u201cenormous\u201d on Tuesday.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm2avrj56000k356m1be2opyy@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            \u201cWith meme stocks, where many of the holders are playing short-term momentum strategies, when the tide turns, everyone wants to move in the same direction,\u201d Ritter said, describing Trump Media as a meme stock akin to GameStop and AMC.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm2avrj56000l356m8mohshsx@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            Ritter said that while it\u2019s \u201crare\u201d to see a multibillion-dollar company plunge like this with no news, meme stocks are subject to sudden moves because they are being driven by momentum, not fundamentals.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm2avrj56000m356mu3g1s6yw@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            At Tuesday\u2019s peak, Trump\u2019s stake of 114.75 million shares in the company was worth $3.88 billion on paper. But by the end of the day, the value of that stake had dropped to $3.1 billion.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm2avp2x30000356mw4f7ytjr@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            This is the second recent trading halt for Trump Media. Last month, <a href=\"https:\/\/www.cnn.com\/2024\/09\/14\/media\/truth-social-trump-nasdaq\/index.html\">Trump lashed out<\/a> at Nasdaq over the routine action, threatening to move the listing to the New York Stock Exchange.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm2avrj56000o356mb2lqv9ka@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            Trump Media shares climbed 2% higher in after-hours trading.\n    <\/p>\n<\/p><\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><div data-type=\"_mgwidget\" data-widget-id=\"1660802\">\r\n<\/div>\r\n<script>(function(w,q){w[q]=w[q]||[];w[q].push([\"_mgc.load\"])})(window,\"_mgq\");\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/www.cnn.com\/2024\/10\/15\/business\/trump-media-stock-mysteriously-plunges\/index.html\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>New York CNN \u00a0\u2014\u00a0 Former President Donald Trump\u2019s social media company suffered a sudden nosedive in the stock market Tuesday that briefly halted trading and left traders scratching their heads. &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=114758\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-114758","post","type-post","status-publish","format-standard","hentry","category-business","entry"],"_links":{"self":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/114758","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=114758"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/114758\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=114758"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=114758"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=114758"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}