Trump Media shares dropped nearly 10% Tuesday, following a volatile trading session that was briefly halted due to the stock's sudden plunge in price. After rising more than 13% earlier in the day, the stock tumbled over 6% at the time of the halt and continued to fall after trading resumed. The stock closed at above $27. Analysts suggest many retail investors of Trump Media are supporters of Donald Trump, the majority owner, and see stock trading as a bet on his political chances. Trump, who owns about 57% of the company, had vowed not to sell his shares. Key shareholder United Atlantic Ventures offloaded its nearly 11 million shares post-lockup.
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00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Trump Media shares dropped nearly 10% Tuesday following a volatile trading session that
00:06was briefly halted due to the stock's sudden plunge in price.
00:10After rising more than 13% earlier in the day, the stock tumbled over 6% at the time
00:15of the halt and continued to fall after trading resumed.
00:18The stock closed above $27.
00:21Analysts suggest many retail investors of Trump Media are supporters of Donald Trump,
00:25the majority owner, and see stock trading as a bet on his political chances.
00:29Trump, who owns about 57% of the company, had vowed not to sell his shares.
00:34Key shareholder United Atlantic Ventures offloaded its nearly 11 million shares post-lockup.
00:39For all things money, visit Benzinga.com slash GSTV.