DJT stock again
I guess it shouldn't come as a surprise that Trump's 'America First' media company has been busy offshoring jobs to Mexico.
On the campaign trail, Donald Trump threatened businesses that send jobs south of the border, while his own company that runs the Truth Social platform outsourced coding jobs to workers in Mexico, outraging some staff members.
After DJT bottomed out around 13 a little over a month ago, it's been on a winning streak, all the way up to 50. Not because it stopped losing money, but because of speculation that Elon Musk would buy it out. Which I guess sort of makes sense.
Until this past week, when it collapsed.
Trump’s social media stock has tanked. It has now lost about 41% of its value in just three days.Truth Social owner Trump Media & Technology Group’s share price plunged another 14% on Friday after tumbling 12% Thursday and 22% Wednesday — Trump Media’s worst one-day loss since going public in March.
After the closing bell on Tuesday, shares were priced at $51, valuing Trump’s dominant stake in the company at about $5.9 billion. On Friday, the value of Trump’s shares tumbled to $3.5 billion. That means Trump lost $2.4 billion in net worth since Tuesday.
What happened a week ago? Trump's MSG rally.