Shares of Trump Media & Technology Group Corp DJT experienced a sharp decline of 17% during pre-market trading on Thursday, according to Benzinga Pro. This drop comes after a significant surge of 6% the previous day, driven by Donald Trump’s return to the White House for a second term.
The fall is primarily attributed to investors taking profits following the political comeback of President-elect Trump. The company’s stock price decreased by 17.01%, reaching $29.84 in premarket trading.
Meanwhile, U.S. stocks could open in the green on Thursday after a strong post-election rally on Wednesday that saw former President Trump emerge victorious after a long-drawn battle with Joe Biden and Kamala Harris. Futures for the small-cap Russell 2000 index showed a 0.4% increase.
The company, which operates Truth Social and is primarily owned by Trump, saw its stock price react to the broader market movements amid Trump’s political resurgence.
The stock has previously hit resistance at the $53.50 level. This resistance level, first encountered in mid-May, has led to a reversal and downward trend.
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
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