Trump Media shares are in free fall [CNN]
GameStop Corporation (GME)
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Source: CNN
The conservative social media company has lost roughly half its market value since May 30, the day former President Donald Trump was convicted of 34 felony counts in a hush money trial. Trump Media's volatile share price ( DJT ) tumbled another 5% on Friday , leaving it down by a staggering 50% in the span of just three weeks. The severe selloff has erased nearly $3 billion from the estimated net worth of Trump, the controversial company's leading shareholder and chairman. The weeks-long selloff accelerated in recent days as Trump Media announced it received approval from regulators for a move that threatens to water down the holdings of shareholders. Despite the tumbling share price, some experts are warning Trump Media remains vulnerable to further losses. “The stock is still wildly overpriced,” said Jay Ritter, a finance professor at the University of Florida who has studied capital markets for the past four decades. The problem is that even after the recent selloff, Tru
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