{"id":121057,"date":"2024-11-02T03:21:47","date_gmt":"2024-11-01T20:21:47","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=121057"},"modified":"2024-11-02T03:21:47","modified_gmt":"2024-11-01T20:21:47","slug":"djt-shares-implode-right-before-the-election-losing-trump-2-4-billion-in-net-worth","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=121057","title":{"rendered":"DJT shares implode right before the election, losing Trump $2.4 billion in net worth"},"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\"\/><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\/cm2yxi4rb005l2cnq5w9cbw5x@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            Former President Donald Trump\u2019s social media stock is plunging just ahead of the election, cutting deeply into his net worth.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm2z0l5an001c356m9t6n7t1q@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            After an <a href=\"https:\/\/www.cnn.com\/2024\/10\/28\/business\/trump-social-media-stock-election\/index.html\">absurd spike<\/a> over the past five weeks that was based entirely on Trump\u2019s perceived reelection prospects \u2014 and had nothing to do with the company\u2019s actual business \u2014 Trump\u2019s social media stock has tanked. It has now lost about 41% of its value in just three days.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm2yxpb9d0004356mgyz3m176@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            Truth Social owner Trump Media &amp; Technology Group\u2019s share price plunged another 14% on Friday after tumbling 12% Thursday and 22% Wednesday \u2014 Trump Media\u2019s worst one-day loss since going public in March.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm2yxpb9d0005356m1frai94u@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            After the closing bell on Tuesday, shares were priced at $51, valuing Trump\u2019s dominant stake in the company at about $5.9 billion. On Friday, the value of Trump\u2019s shares tumbled to $3.5 billion. That means Trump lost $2.4 billion in net worth since Tuesday.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm2yxibj50000356m3wd30wkj@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            Trump Media\u2019s shares, which trade under the ticker \u201cDJT,\u201d have become a <a href=\"https:\/\/www.cnn.com\/2024\/10\/14\/investing\/trump-stock-truth-social-election\/index.html\">proxy for how traders think the presidential election will turn out.<\/a> Prediction markets in recent days have moved toward projecting that Vice President Kamala Harris will win the election, even as polls clearly show a toss-up election with no clear favorite.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm2yxt86t000z356mpvz42jze@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            \u201cMeme stocks, of which DJT is one, are very susceptible to momentum shifts,\u201d said Steve Sosnick, chief strategist at Interactive Brokers, who noted a clear \u201cvibe shift\u201d in recent days\u2019 prediction markets. \u201cLast week\u2019s spike in prediction markets was a boon to DJT; conversely a shift away would hurt the stock.\u201d\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm2z0vwdy001n356mb96zz8du@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            The company\u2019s fundamentals have nothing to do with why the stock is traded. Trump Media did not release any major news that would explain the nosedive.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm2z0vxbx001p356mwmsl0slu@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            \u201cRemember, that stock is basically a binary, leveraged election wager,\u201d Sosnick said. \u201cIf he wins, then there\u2019s a case to be made for increasing its value. If he loses, it reverts to being a barely profitable company with scant revenues.\u201d\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm2yxsg9r000h356mxikrmrhl@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            Trump Media\u2019s stock has been extraordinarily volatile all year. But between September 23 and Tuesday\u2019s closing bell, Trump Media had quadrupled in value.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm2yxsp9w000n356m9t31lqsg@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            The enormous gains boosted Trump Media\u2019s value to $10.3 billion as of Tuesday\u2019s close. That means it was briefly worth <a href=\"https:\/\/www.cnn.com\/2024\/10\/02\/business\/elon-musk-twitter-x-fidelity\/index.html\">more than the implied value of X<\/a>, the Elon Musk-owned social network formerly known as Twitter.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm2yxsp9w000o356mwhccppl4@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            That\u2019s despite the fact that X has about 70 million monthly active US users on iOS and Android, according to Similarweb data shared with CNN. That\u2019s roughly 100 times Truth Social\u2019s 698,000 monthly active US users.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm2yxsohh000l356meh48nhpn@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            Even Threads, Meta\u2019s relatively new X competitor, has about 20 times the user base of Truth Social, according to Similarweb.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm2yxswfg000t356mnndkaexs@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            Trump Media\u2019s fundamentals remain very modest for a company that is still valued at about $6 billion. For context, CBS owner Paramount Global, a company that Trump Media recently surpassed in market value, has brought in more than $14 billion in revenue so far this year.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm2yxswfg000v356minut6ddc@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            But Trump Media has generated just $1.6 million of revenue this year.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm2z15wfx00003b6mxdgj80u7@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            George Kailas, CEO of Prospero.ai, a research platform that helps traders gather market intelligence, told CNN on Friday he\u2019s not surprised by the sudden momentum shift for Trump Media because that\u2019s what happens with meme stocks.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm2z1a90z00023b6mmakf0nol@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            \u201cIt\u2019s like a game of musical chairs. Everyone is happy when the music is playing and the stock is going up,\u201d Kailas said. \u201cBut since it isn\u2019t based on any kind of good tangible value, the second that stops, everyone panics\u2026and the bottom falls out.\u201d\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\/11\/01\/investing\/trump-stock-net-worth\/index.html\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>CNN \u00a0\u2014\u00a0 Former President Donald Trump\u2019s social media stock is plunging just ahead of the election, cutting deeply into his net worth. After an absurd spike over the past five &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=121057\" 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-121057","post","type-post","status-publish","format-standard","hentry","category-business","entry"],"_links":{"self":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/121057","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=121057"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/121057\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=121057"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=121057"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=121057"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}