Former President Donald Trump lost $1.3 billion in just one day as his social media company, Trump Media & Technology Group, saw its stock price fall by 22.3% on Wednesday. This sharp drop is the company’s worst single-day loss since going public.
Earlier, the company’s value had risen quickly, fueled by investor hopes that Trump might win the upcoming election. However, the stock’s sudden fall was unexpected, as there was no major news from Trump Media to explain it.
Experts say the high value of Trump Media is surprising, given its small user base and low revenue compared to other social media platforms. Some investors think this stock behaves like a "meme stock," known for unpredictable ups and downs.
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