Shares of Trump Media & Technology Group, backed by former President Donald Trump, fell nearly 10% on Tuesday, continuing to decline since May 30th, when Trump was convicted of fraud charges. The stock closed just above $30, down 40% from its price after Trump's conviction, on higher-than-average trading volume. Tuesday's sell-off coincided with a deadline for some investors to exercise stock warrants in the company. Truth Social has struggled to maintain users, with monthly visits down 39% compared to the previous year.
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00:00It's Benzinga, and here's what's on the block.
00:02Shares of Trump Media, the company that is now backed by former Donald Trump,
00:07fell nearly 10% on Tuesday as it's continuing a steady decline since May 30th,
00:12which is when Trump was convicted of fraud charges. The stock closed just above $30,
00:17which is down 40% from its price right after Trump's conviction, on higher than average
00:22trading volume. Tuesday's sell-off coincided with a deadline for some investors to exercise
00:26stock warrants in the company. Truth Social has struggled to maintain its users,
00:31with monthly visits down 39% compared to the previous year.