Trump Media Shares Drop 14% Premarket After Election Rally

Benzinga 2024-11-07

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Shares of Trump Media & Technology Group plummeted nearly 14% in Thursday's premarket session, erasing Wednesday's gains following President-elect Donald Trump's victory. The stock surged over 5% in regular trading on Wednesday after Trump was elected the 47th president, reaching the White House once again. Trump Media has been highly volatile since its IPO in March through a blank-check merger. A Tuesday earnings report showed a more than $19 million third-quarter loss, possibly prompting profit-taking, despite 105% growth year-to-date.

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