Trump Media & Technology Group Shares Hit New Low, Analysts Question Financial Prospects

Trump Media & Technology Group, Donald Trump's media business, has experienced a tumultuous start as a public company, with its shares reaching a new low since being listed on the Nasdaq exchange at the end of last month.

The stock, traded under the ticker symbol DJT, experienced a significant decline, falling by $5.56, or 12%, to close at $40.59 on Friday. This marks the company's lowest level since its debut on March 26. Throughout the week, Trump Media shares witnessed a decline of over 32%, leading to a loss of approximately $4 billion in market value over this period.

Wall Street Analysis

Despite the initial surge in Trump Media shares to a high of $79.38 on March 26, Wall Street analysts have expressed skepticism about the company's financial prospects. These analysts have raised concerns about the company's valuation, likening it to "meme" stocks such as GameStop.