The share price fall follows weak quarterly results and the Republican presidential candidate’s return to social media platform X. The selection of Kamala Harris as the Democratic candidate has also hit the stock, which has been seen by some retail traders as a bet on whether Trump would win a second term.
Commentators have said that the company’s value is detached from financial reality, with Trump Media being compared to a “meme stock” in which its price is bid up by supporters of Mr. Trump.