Trump Media Stock Drops 50% Amid Election Concerns and Assassination Attempt
Shares of Trump Media fell to their lowest price since merging with Digital World Acquisition Corp. in March. The stock price peaked in July after Donald Trump was nearly assassinated at a campaign rally but has since declined nearly 50% on concerns about Trump's election prospects. Vice President Kamala Harris replaced Joe Biden as the Democratic nominee for president in July, flipping betting markets' views on who will likely win the November election. Trump Media reported a net loss of over $16 million for the second quarter while generating nearly $800,000 in revenue, with legal costs associated with the merger accounting for half the loss.
Category
đ
NewsTranscript
00:00It's Benzinga, and here's what's on the block.
00:03Shares of Trump Media fell to their lowest price since merging with Digital World Acquisition
00:07Corp in March.
00:08The stock price peaked in July after Donald Trump was nearly assassinated at a campaign
00:12rally but has since declined nearly 50% on concerns about Trump's election prospects.
00:17Vice President Kamala Harris replaced Joe Biden as the Democratic nominee for president
00:21in July, flipping betting markets' views on who will likely win the November election.
00:26Trump Media reported a net loss of over $16 million for the second quarter while generating
00:30nearly $800,000 in revenue, with legal costs associated with the merger accounting for
00:35half of the loss.
00:36For all things money, visit Benzinga.com.