Why Trump Media Stock Is Plummeting Today
Trump Media (NASDAQ: DJT) stock is seeing big sell-offs in Thursday's trading. The company's share price was down 20.4% as of 2:45 p.m. ET.
Despite Donald Trump's victory in the presidential election, Trump Media stock is losing ground today. While there isn't any new business-specific news for the company or unfavorable political developments for Donald Trump, the social media specialist's share price is moving lower as investors move to take profits on the stock.
Even with today's sell-off, Trump Media stock is still up roughly 74% over the last month. The company's share price rose over the period in conjunction with polls and analysis that suggested that Trump was on track to win the presidential election. With victory being announced for the Republican in the race yesterday, Trump Media stock climbed 8.9% in yesterday's trading. But investors are now taking profits on the stock, and the company's share price is seeing a big pullback.
Source Fool.com
