Shares of Truth Social owner Trump Media & Technology Group have plummeted following a surge in the run-up to Election Day.
Social media observers noted a massive sell-off of shares in DJT, which had been enjoying a strong run in the days leading up to the election.
Stock in the Trump firm had to be temporarily halted on two occasions due to volatility.
Traders have been betting for months that a Trump victory could enhance the value of Truth Social — though justifying its current price tag would be very difficult even if Trump is back in the White House.
Trump Media is losing money and generates very little revenue.
Its main product, conservative social network Truth Social, remains tiny.
Matthew Tuttle, CEO of Tuttle Capital Management, told CNN on Tuesday that it’s far too early to draw any conclusions from the Trump Media volatility and other market moves.
“It’s extremely early. I don’t think we’re seeing smart money here. We’re seeing people throwing darts at a board,” Tuttle said.
The stock is being traded at $33.94 at the time of writing.
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