Trump Media Shares Hit Lowest Level Ever [Video]

Trump Media & Technology Group (TMTG) shares hit their lowest level ever when the stock market opened on Friday.

Friday marked the first day former President Donald Trump, the GOP presidential nominee, could sell his stake in TMTG, which owns social media site Truth Social.

Despite Wall Street closing at record highs yesterday after the Federal Reserve cut interest rates by a large half-percentage point, shares of Trump Media fell almost 7 percent to $13.73 on Friday, which left the value of the company at less than $3 billion.

Trump owns 57 percent of the company, which trades as DJT on the Nasdaq. Trump’s stake is now worth about $1.6 billion, at least on paper, according to TMTG’s share price early Friday.

Newsweek reached out to Trump’s communications director, Steven Cheung, via email for comment late Friday morning.