Value of Trump’s stake in Truth Social parent company has plunged since Harris entered 2024 race
From CNN's Matt Egan
The value of Donald Trump’s stake in the corporate owner of Truth Social has dropped by $800 million since Vice President Kamala Harris entered the race for the White House on July 21.
Trump Media & Technology Group’s share price has tumbled by about 20% since then.
The value of Trump’s dominant stake in the conservative social media company stood at just over $4 billion as of July 19, the final trading day before President Joe Biden exited the race and endorsed Harris. It has since dropped to about $3.2 billion.
The selloff comes as national and battleground polls indicate a tight matchup between Trump and Harris. The stock has become a vehicle for Wall Street traders to bet on the prospects of Trump returning to the White House, as Truth Social could become the platform for presidential communications if Trump wins.
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