What's Going On With Trump Media & Technology Group Stock On Tuesday? (CORRECTED)

Editor’s note: This story has been updated to correct a sentence that was missing details on the timing of the 2016 hush money payment at the center of Donald Trump’s New York criminal case.

Trump Media & Technology Group Corp DJT stock is trading lower on Tuesday. The dip in the Truth Social parent stock comes as a New York judge has ruled that Donald Trump will be sentenced on Jan. 10, 2025, just days before his inauguration as president of the United States.

This decision follows repeated delays in the case, in which the court found Trump guilty of 34 felony counts of falsifying business records, setting a precedent for a former president.

The sentencing, stemming from Trump's conviction in May 2024, will go ahead as planned despite ongoing legal challenges, BBC News reports.

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The case relates to a $130,000 hush money payment made during the 2016 election cycle.

New York Supreme Court Justice Juan Merchan ruled against President-elect Donald Trump's arguments related to presidential immunity, citing their repetitive nature.

Merchan denied Trump's request for a stay of the proceedings, citing the need for finality in the case. Trump faces an unconditional discharge, meaning no prison, fines, or probation, though the conviction will remain on his record.

Trump has the option to appear in the court in person or virtually.

Trump Media stock surged 104% in the last 12 months. Last November, Trump Media announced third-quarter net sales of $1.01 million, marking a 6% decline year-on-year.

Advertising on the Truth Social platform accounted for the company's total revenue. The company reported an EPS loss of 10 cents compared to a loss of 30 cents.

The stock continued to soar despite Trump transferring his 53% stake in the company to his revocable trust last December. Trump is set to be inaugurated Jan. 20.

Price Action: DJT stock is down 2.68% at $35.21 at the last check Tuesday.

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