The value of shares in Donald Trump’s social media company Truth Social has slumped more than 74 per cent since late March, when it was listed on the Nasdaq stock exchange.
Shares in Trump Media & Technology Group, which owns the Truth Social platform, fell more than 6 per cent to below $17 on Wednesday.
After making its Nasdaq trading debut, the shares rose to as high of $66.22 in late March, giving the company a market value of about $11 billion.
The market valuation of the company has since fallen to $3.4 billion, wiping billions of dollars off the value of the former president’s stake in the firm.
Trump launched Truth Social, his own social media app, in 2021, “to stand up to the