Trump Media Stock Plummets 8.43% to Close at $37.17, Market Cap Drops to $5 Billion

On Monday, April 8th, the share price of Trump Media stock closed at $37.17, marking an 8.43% drop on the Nasdaq stock exchange. This significant decline comes in the wake of a 12% drop in its share price on Friday. Initially soaring to nearly $80 after its public trading debut, the company's stock has since plummeted. At times on Monday, the stock's price was down 10% or more. As a result, Trump Media's market capitalization has seen a drastic decrease, from hitting around $8.4 billion in late March to ending Monday at $5.08 billion.

Former President Donald Trump, the largest shareholder of Trump Media, holds 78.75 million shares of its stock, valued at about $2.93 billion at Monday's close. However, he is currently restricted from selling his shares for six months, as per a merger agreement. Notably, the company's board holds the authority to lift this lock-up provision.

Moreover, Trump stands to gain an additional 36 million shares of DJT if certain share price benchmarks are met over the next three years, reflecting the potential future performance of the company.

With the stock experiencing significant fluctuations, the future trajectory of Trump Media remains uncertain amidst the evolving dynamics of the stock market.