Trump Media stock drops more than 10% to open trading week

Aytac Unal/ | Anadolu | Getty Images

Trump Media shares dropped more than 10% in early trading Monday, putting its market capitalization to just below $5 billion.

DJT’s plunge followed a 12% decline in its share price on Friday.

Trump Media, which owns the Truth Social app used by its biggest shareholder, former President Donald Trump, had a high price of nearly $80 two weeks ago after it began trading as a publicly held company.

Its share price as of 2:36 p.m. ET Monday was $36.24 per share, a 10.72 decrease for the day.

Trump Media’s market cap, stood at $4.9 billion at that point, about $3.5 billion or so lower than what it reached at its peak trading price right after it became a publicly held company.

Trump personally owns 78.75 million shares of its stock, which was worth about $2.85 billion. Trump stands to receive another 36 million shares of DJT if the stock hit certain share price benchmarks over the next three years.

This is breaking news. Check back for updates.

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